As projected, April tax revenue falls 51 percent from April 2019Scott Rothschild
As predicted, Kansas tax collections for April fell a whopping 51 percent, or $611 million, below April 2019, officials reported Friday.
The astounding decrease was expected because of tax deadline extensions due to the coronavirus pandemic, according to the Kansas Department of Revenue.
On April 20, the Consensus Revenue Estimating Group met to revise state revenue projections. The group’s April estimate was only one-tenth of one percent below the actual total.
The newest revenue estimates show the state will fall an estimated $1.27 billion short of earlier projections over the current and next fiscal year, which starts July 1.
With school funding making up about half the state budget, education officials should remain aware about the developing budget situation. For a more in-depth look how the budget problems could affect K-12 funding, please read the latest Tallman Education Report.