General Fund Revenue Increases

{Frankfort, Kentucky}…Budget Director Mary Lassiter said Friday that General Fund revenue rose by 3.7 percent for the month of October, largely thanks to growth in individual and corporate income tax receipts. Individual income tax collections rose 3.7 percent for the month to nearly $303 million, and property tax collections skyrocketed by nearly 90 percent to $32.5 million. Sales tax collections fell by 2.5 percent to $297 million, and coal severance tax revenue nosedived by 41 percent to $16.7 million. Revenue from the state's cigarette tax rose by 5.4 percent to just over $20 million, Road Fund revenues rose 19 percent to $135.9 million and the fuel tax generated more than $76 million, while the motor vehicle license tax accounted for another $42.4 million.