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Arizona revenues are up 17 percent over past year

PHOENIX — State revenues were up by more than 17 percent last month
compared to a year earlier, but state officials said it’s too soon to say whether
that’s a one-time boost or a larger trend.

The Legislature’s budget staff said general fund revenues rose to $340 million
last month. But they warn the increase overstates real economic growth because
February revenues are affected by the processing of income tax returns and can
be misleading.

The Joint Legislative Budget Committee report released Wednesday shows
year-to-date revenue is running 4.4 percent higher than last year and above the
state forecast.

A better measure is sales taxes.

Those showed a strong 7.4 percent gain in February compared to a year earlier,
a sign consumers are spending more as the economy improves.


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