Tax Revenue Forecasting

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The uncertainty of tough economic times makes it difficult for state and local governments to accurately forecast their revenues. The collapse of the housing bubble, rising foreclosures, and plummeting commercial values are threatening the tax digests of local governments across the country. Sales tax revenues are also dropping as consumers tighten their belts, increase their savings, and try to repair their household balance sheets. In this environment, it is more important than ever to have accurate revenue forecasts for planning and budgeting purposes. The principals of the Economic Impact Group have years of experience building forecast models for sales tax, property tax, and other non-tax revenue streams. Models can include 1-, 3-, or 5-year forecasts.