Colorado was one of nine states in fiscal year 2011 that experienced an increase of 10 percent or greater in year-to-year tax collections, the U.S. Census Bureau said today.
Colorado had a 10.4 increase, collecting $9.4 billion in fiscal 2011 compared to $8.5 billion in fiscal 2010.
States adjacent to Colorado also had significant tax-collection increases, said the report. New Mexico had a gain of 15.1 percent and Wyoming a 14.1 percent gain.
North Dakota, which is experiencing an energy boom, led the states with a 44.5 percent increase.
The Census Bureau said the figures for fiscal 2011 were significant because in fiscal 2010, no state increased by more than 10 percent, and five states actually decreased by 10 percent or more.
The U.S. Census Bureau said state government tax collections totaled $763.7 billion in fiscal year 2011, up 8.9 percent from the $701.6 billion collected in fiscal year 2010 .
“The nationwide increases in state government tax revenue are an indication of the stabilization of revenues for state governments,” said Lisa Blumerman, chief of Bureau’s Government Division. “These data help us understand the condition of our state governments and their fiscal ability to continue to provide public services.”
The report noted that in Colorado, North Dakota, Nevada, Texas and Wyoming severance taxes — those collected for removal or harvesting of natural resources (oil, gas, coal, timber and fish) — were up significantly.
In Colorado, the increase from severance tax was 105.3 percent, said the bureau.
The report said that in 2011, all 50 states reported a positive increase over the previous year’s total tax collection, up from 11 states in 2010.
North Dakota led the states with a 44.5 percent increase; Alaska 22.4; California, 17.4; Illinois, 15.3; New Mexico, 15.1; Wyoming, 14.1; Idaho, 10.5; Colorado, 10.4; and Minnesota, 10.1.
Howard Pankratz: 303-954-1939 or hpankratz@denverpost.com
