Wednesday, December 11, 2013

Ky General Fund revenue up 2.4 percent in November

Newly released numbers from the Kentucky budget office show tax collections were up in November.

State Budget Director Jane Driskell said Tuesday that General Fund revenue increased 2.4 percent for the month, generating revenue of nearly $803 million.

Driskell called the latest revenue figures encouraging.

Individual income tax collections rose 6 percent for the month, a sign of fatter paychecks for Kentucky workers. Property tax revenue was up 8.1 percent.

Meanwhile, sales tax collections fell by 1 percent in November. Cigarette tax revenue dropped 4.3 percent. And the coal severance tax was off 18.1 percent.

Road Fund revenue rebounded in November, jumping 13.6 percent.