State tax collections down 3.1 percent

The Bellingham Business Journal

State tax collections declined 3.1 percent in fiscal year 2010 to $15.1 billion, according to Tax Statistics 2010, published online Oct. 5 by the Department of Revenue.

While collections were down for the past fiscal year, the decline was significantly less than the 8 percent drop for fiscal year 2009, according to the report.

Among major revenue sources, sales tax revenue declined the most with a 6.6 percent drop to $6.5 billion. Business and occupation tax revenue dropped 2.8 percent to $2.6 billion. Real estate excise tax revenue was down 3.3 percent to $412 million. By comparison, real estate tax revenue dropped 40.6 percent last year. Despite the overall decline, the value of real estate sold was up in 13 of the state’s 39 counties.

Tax revenues in some categories increased. Motor fuel tax revenue went up 4.8 percent to $1.2 billion, and liquor sales and beer and wine excise taxes were all up.

The complete report is available at dor.wa.gov in the statistics and reports section.

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