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Tuesday, November 5, 2024

Virginia's miscellaneous tax revenues down 22.6% since Q3 2023

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Craig M. Burns Tax Commissioner at Virginia Department of Taxation | Virginia Department of Taxation

Craig M. Burns Tax Commissioner at Virginia Department of Taxation | Virginia Department of Taxation

Virginia collected $171 million in miscellaneous tax revenue during the third quarter of 2023, a 22.6% decrease from the same period the previous year when $221 million was reported, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q3 2023 Virginia Tax Collections

Type of TaxAmount (millions)
Property Taxes-$1
Sales and Gross Receipts Taxes$3,491
Income Taxes$4,877
License Taxes$321
Miscellaneous Taxes$171

Source: U.S. Census Bureau

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