State tax revenues for November were slightly above estimates. Ohio Public Radio's Karen Kasler reports.
Personal income tax revenue for November was up nearly 12 million dollars, or 1.8 percent over estimates. And total tax revenue was up a half a point over the state budget office’s initial forecasts. For the year, the personal income tax has brought in 28 million more than estimates, and total tax revenue is running three tenths of a point over where forecasters thought it would be. At this time in the last fiscal year, income tax revenue was off nearly 5 percent and total tax revenue was 259 million less than predicted. forecasts for the last fiscal year were off for 11 of 12 months, creating a budget hole of nearly a billion dollars. State budget director Tim Keen had said he would revise his forecasts downward.