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Total Tax Revenue Trails for First Half of Fiscal Year. Are Budget Corrections in the Offing?

January 18, 2024 | njspotlightnews.org









Credit: Image by Mediamodifier from Pixabay



When the first half of the state’s fiscal year ended last month, New Jersey’s total tax collections were off nearly $530 million from the same point in the previous fiscal year. 

In all, the state’s revenue haul from the beginning of July through the end of December declined by nearly 3% compared with the same six months in the fiscal year that ended June 30, 2023, the Department of the Treasury reported Wednesday.


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NJ SEED: “Budget Corrections” – could that be a dog whistle for higher taxes? An annual budget of nearly $55 billion requires a lot of revenue and sound economic times to fund it.

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