MONTPELIER, Vt. (WCAX) – State leaders say tax revenue is coming in higher than expected.
Vermont’s General Fund finished the month of April about 100 million dollars over what state economists predicted.
State lawmakers are planning on using about 25 million dollars of that to buy down property taxes.
Experts say the bump in revenue is due to people filing their income taxes last month.
And they say it’s a reflection of a healthy economy.
“The underlying economy is strong, and when the economy is strong people are earning money and buying goods,” Vt. Finance and Management Commissioner Adam Greshin said. “That shows up in additional revenue over what we forecasted. “
While April’s tax revenue numbers were recently announced, Vermont’s Finance and Management Commissioner says it’s too soon to tell how eclipse tourism affected meals and rooms tax revenue.
Those numbers are expected sometime in June.