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Ohio's Tax Revenue Falls Short in March By Millions

photo of Tim Keen
OHIO OFFICE OF BUDGET AND MANAGEMENT

For the fourth time in five months, the state has fallen short of predicted revenue. 

March’s personal income tax collections were down $203 million from what was expected. And overall income tax revenue for the year is off by more than half a billion dollars –  $615 million.

Budget Director Tim Keen blames the slow economy, and says income tax refunds are much bigger than were predicted. This means there will likely be less money available in the two-year budget now being discussed.

“We are going to have to revisit our revenue estimates, and we likely are going to have to reduce those 18-19 revenue estimates.”

Keen is urging lawmakers to hold the line on spending, including avoiding adding money to K-12 education. But Keen says with reserve funds, the state will still end the fiscal year in the black. 

Karen is a lifelong Ohioan who has served as news director at WCBE-FM, assignment editor/overnight anchor at WBNS-TV, and afternoon drive anchor/assignment editor in WTAM-AM in Cleveland. In addition to her daily reporting for Ohio’s public radio stations, she’s reported for NPR, the BBC, ABC Radio News and other news outlets. She hosts and produces the Statehouse News Bureau’s weekly TV show “The State of Ohio”, which airs on PBS stations statewide. She’s also a frequent guest on WOSU TV’s “Columbus on the Record”, a regular panelist on “The Sound of Ideas” on ideastream in Cleveland, appeared on the inaugural edition of “Face the State” on WBNS-TV and occasionally reports for “PBS Newshour”. She’s often called to moderate debates, including the Columbus Metropolitan Club’s Issue 3/legal marijuana debate and its pre-primary mayoral debate, and the City Club of Cleveland’s US Senate debate in 2012.