January 14, 2010 FY2011 Sales Tax Forecast
Forecasting sales tax revenue for Utah’s local government entities is an incredibly difficult process during this economy. Precisely predicting the change in sales tax a year out is like trying to shoot an apple off the head of a gazelle sprinting through the desert. But regardless of this difficultly the League still makes an effort to forecast, and thanks to former Utah Chief Economist Doug Macdonald we feel confident in our prognostication. According to the economic indicators listed in the table below the League forecasts local options sales tax revenue for FY2011 to be up around 2.4%. We’ll see how close we are. Any disagreement or thoughts?