- Associated Press - Thursday, August 4, 2016

CHARLESTON, W.Va. (AP) - Officials say West Virginia has started the budget year with a revenue dip, including lower-than-expected sales tax totals partly due to devastating floods.

The Department of Revenue reported July revenues Thursday of about $225 million, $32.6 million below estimates and 10.6 percent below last July’s revenues. The fiscal year began July 1.

Revenue Secretary Bob Kiss says consumer sales tax yielded $64.6 million, or $22.1 million below estimates and 23.1 percent below this time last year.

Kiss attributed the drop to more local governments using local sales taxes, the timing of annual transfers, a June spike in nontaxable health-care claims and flood fallout. Kiss said uncertainty through a dragged-out budget process also may have played a role.

The June 23 floods killed 23 people and devastated homes, businesses and infrastructure.

LOAD COMMENTS ()

 

Click to Read More

Click to Hide