State Says October Tax Collection Projections On Target

Nov 7, 2017

Budget Director Tim Keen addresses an Ohio House committee
Credit Ohio Public Radio

The state says its budget projections for last month were on target.

Ohio Public Radio's Andy Chow reports.

The state budget office's estimates for how much personal income tax revenue it would bring in for October were off by just $141,000. Several categories of taxes were up sharply, such as the commercial activity tax - nearly 25% above estimates for the month. But total tax revenue for the month was down by $80 million or 3 percent, and for the year it's $13 million off estimates - just one tenth of a percent. State budget director Tim Keen had said he would revise his forecasts downward after last year, when estimates were off in 11 of the 12 monthly reports.