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Overall state tax revenues grew by 10.8% in the second quarter of 2011, marking the sixth consecutive quarter of growth following five quarters of decline. Personal income tax revenues rose sharply by over 16%, however property tax revenues declined for the third consecutive quarter due to continued weakness in housing markets. While state tax collections have improved substantially from declines seen in the recession, local tax revenues have continued to decline, driven by falling property values and prope

Author

Nick Reisman

Language

EN