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Strong Showing for State Revenues, $58 Million Above Projections

March 4, 2016 Data Viz

Thanks to a steadily growing economy, the state’s FY 2016 revenue situation remains strong. According to the Department of Administrative Services, total General and Education Fund revenue, through the end of February, is $58 million higher than what was expected at this point in time. Furthermore, this does not take into account the $19 million attributed to the tax amnesty program that ran from December 1, 2015 through February 15, 2016.

While over a dozen revenue streams flow into the General and Education Funds, three – business taxes, the meals and rooms tax, and the real estate transfer tax – have been responsible for the vast majority of the positive news. The strength of these particular taxes suggests that the New Hampshire economy is performing well overall, since these revenue streams tend to reflect trends in corporate profits, discretionary consumer spending, and household finances.

The following data visualization is designed to help you understand the data. Within each tab, you can hover over each data point to view additional context. On the right side are seven radio buttons, which allow you to further investigate revenue trends by specific tax type or by total collections.

Below the visualization are some of the numerical highlights from the latest report.

(To view data in full screen mode or on a mobile device, click here.)

 

 

Business profits tax and business enterprise tax

FY 2016 collections (through 2/29/16): $310.7 million

FY 2016 YTD vs FY 2015 YTD Actual: Up $40.7 million (15.1 percent)

FY 2016 YTD vs FY 2016 YTD Plan: Up $35.4 million (12.9 percent)

 

Meals and rooms tax

FY 2016 collections (through 2/29/16): $208.4 million

FY 2016 YTD vs FY 2015 YTD Actual: Up $13.4 million (6.9 percent)

FY 2016 YTD vs FY 2016 YTD Plan: Up $5.9 million (2.9 percent)

 

Real estate transfer tax

FY 2016 collections (through 2/29/16): $97.1 million

FY 2016 YTD vs FY 2015 YTD Actual: Up $14 million (16.8 percent)

FY 2016 YTD vs FY 2016 YTD Plan: Up $12 million (14.1 percent)

 

 

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Elections Highlight Continuing Questions About Keno Revenue

8 Nov 2017

tree with coins

While results are still preliminary, Keno gaming appears to have been legalized in seven cities around New Hampshire as a result of Tuesday’s votes. The margin of victory in Rochester for Keno legalization was reportedly only one vote and may still be subject to change or recount, but voters appear to have legalized Keno gaming in Berlin, Claremont, Laconia, Manchester, Nashua, Rochester, and Somersworth. Voters in Concord, Dover, and Keene voted against Keno gaming legalization. Franklin had legalized Keno gaming previously, and the Portsmouth City Council decided to not put Keno on the ballot. Other municipalities, including the City of Lebanon, may make decisions regarding Keno legalization next year. These results have implications for State policy and finances.