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Monday
Dec242012

Real Estate Transfer Revenues Up 45 Percent

As New Hampshire legislators are away for the holidays, revenues appear to be coming in as planned for the month of December and may wind up slightly ahead of schedule.

That's thanks at least to some degree to real estate transfer monies which, unlike some revenue sources, usually come in in a lump sum.  $6 million was expected for the month, but $8.7 million came in, 45 percent more than expected.  This is especially good news since all ten counties also get revenue from this source (a tax on every property sold).  In fact, we learned Friday that this source is ahead of plan in Hillsborough County.  Since it's a small amount, the 45 percent number makes a better headline than the $2.7 million in actual monies!

Rooms and meals monies are also ahead of plan, in at $18 million; $16.2 million were expected.

Due to the big Megabucks pot a few weeks back, lottery revenues are a million ahead of the$5.8 million plan.

It's a fairly big month for business tax revenues ($81.4 million planned), and with another week of receipts to go, we appear to be on track.

The major bad news is, as expected, from tobacco revenues (due to the O'Brien ten cents a pack decrease in the cigarette tax).  We'll likely get more tobacco monies in the next few days, but currently they're $6.1 million behind the $18.2 million plan. 

$5.5 million of the Medicare enhancement monies, expected last month, came in in December (none were planned), so that line will make the month look better than it actually is. 

As of Christmas Eve, the state had taken in $159.9 million for the month; just $12.9 million shy of the $172.8 million plan.  It's too soon to estimate liquor monies for the month, but we should get another five or six million (the plan was $15.7 million; we're only at $8.9 million now, but these monies come in on almost a daily basis).

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