Get our free mobile app

St. Paul, MN (KROC-AM News) - Tax collections reported by the State of Minnesota continued to be higher than forecast last month.

A monthly update from the Minnesota Office of Management and Budget shows net general fund revenues in August totaled just over $1.93 billion. That was $69 million or 3.7% above the level that was predicted by the most recent state revenue forecast.

Since the beginning of the fiscal year in July, overall tax revenues totaled nearly $3.7 billion. The total is $133 million higher than projected, which is also 3.7% above the forecast.

Minnesota Management and Budget
Minnesota Management and Budget
loading...

Individual income tax payments accounted for much of the windfall in August. The total amount collected was $1.019 billion while the forecast predicted income tax payments of $967 million. Corporate tax payments were $22 million higher than predicted, while general sales tax payments came in $8 million under the forecast at $666 million. Miscellaneous other state revenue sources totaled $183 million, which was $2 million ahead of the forecast.

Rochester's Oldest Home for Sale is Older Than St. Mary's

A home for sale in Rochester, Minnesota was built in 1875. It's the oldest home for sale in Rochester right now and was actually built before St. Mary's Hospital.

More From KQCL Power 96