State Tax Revenue Continues to Outpace Forecast

According to the latest monthly report from Ohio’s Office of Budget and Management, year-to-date tax collections for the state’s General Revenue Fund were $244.7 million (2.1%) above estimates, as of the end of November.

Personal income tax revenues have fueled the surplus, accounting for two-thirds of the total tax revenue variance. See this infographic.

Meanwhile, Ohio recently landed “AAA” ratings from all three major rating services: S&P Global, Moody’s, and Fitch Ratings. 12/19/2023