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Wed December 11, 2013
KY Tax Collections Up 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% for the month, generating revenue of nearly $803 million. Driskell called the latest revenue figures encouraging.
Individual income tax collections rose 6% for the month, a sign of fatter paychecks for Kentucky workers. Property tax revenue was up 8.1%.
Meanwhile, sales tax collections fell by 1% in November. Cigarette tax revenue dropped 4.3 %. And the coal severance tax was off 18.1%. Road Fund revenue rebounded in November, jumping 13.6%.