Originally posted in a LVRJ Forum
when the real estate market tanks the money to fund the state government dries up.
You don't know what you're talking about.
The biennial budget relies mainly on sales taxes ($730M), gaming taxes ($639M), and increasingly business taxes ($371M). Property transfer taxes ($47M) are typically <5% of general fund revenues.
State general fund tax revenues are currently running ~$2.4B/yr. That's down from the $3.2B run rate of Fibbons first budget, but still strong by historical standards. We're back at 2005's tax take. Then a blowout year.
Some crisis.
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