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Government

State Panel To Update Kansas Tax Collection Estimate

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Stephen Koranda
/
KPR/File photo

A group of state officials and economists will meet on Monday to put together a new estimate of Kansas tax collections.

As Stephen Koranda reports, the information is critical for lawmakers as they build the state budget.

Kansas legislators decided to wait to do the final work on the budget until after their spring break.

This new revenue estimate will give them a better idea of how much money they can spend, and if they’ll need to increase taxes. The budget they have put together so far would need tax increases to balance. That comes after lawmakers cut taxes in recent years, leading to lower state tax collections.

The last estimate in November lowered the state’s revenue projection by $200 million. Legislators will return to Topeka for the wrap-up part of the session later this month.

From July 2014 through March, the state has collected $43 million dollars less in taxes than anticipated, 1.2 percent less than the current forecast.

The forecasters include: legislative researchers, members of Brownback's budget stuff, Department of Revenue officials and university economists.