Revenue

Steve Shaluta / West Virginia Division of Tourism

West Virginia officials say hotel occupancy has climbed from last year.

Gov. Jim Justice and other officials announced last week that statewide hotel occupancy grew around 16 percent in June from the same month in 2017. Officials say the growth produced a 20 percent revenue increase from a year earlier.

Thoroughbred horses participating in a race at the Hollywood Casino in Charles Town, W.Va.
Courtesy Photo / Coady Photography

The dog and horse racing industries have played a major role in West Virginia’s economy since the mid-1930s. But in recent years, lawmakers at the statehouse have debated whether these industries fit into the state’s economic future. Those who support the racing industry are fighting to see it survive, while others say it doesn’t bring in revenue like it once did.

Gov. Jim Justice during the State of the State Address in January 2018.
Perry Bennett / West Virginia Legislative Photography

Gov. Jim Justice and his revenue staff say West Virginia is heading toward a budget surplus as the state nears the end of the 2018 fiscal year.

The governor and his revenue staff announced May’s revenue collections were more than $20 million above estimates. The entire month saw nearly $330 million in total revenue collection.

Jim Justice
Scott Halleran / Getty Images

West Virginia tax revenue for the month of April were above estimates, putting the state on track to reach projections by the end of the fiscal year in June, according to Governor Jim Justice.

Justice said during a news conference that revenue collections for April were $23.7 million above estimates.

Capitol
Kristi George / West Virginia Public Broadcasting

For the first time in five years, West Virginia revenue collections are reported to be above estimates at the fiscal year halfway mark.

State revenue officials say West Virginia’s overall cumulative collections in the General Revenue Fund are over $100 million ahead of where the state was this time last year. And the state is above estimates at the fiscal year halfway mark for the first time since December 2012.

Money, Cash
2bgr8 / Deviantart

West Virginia tax officials say collections of nearly $949 million so far this fiscal year are 3.7 percent or almost $34 million higher than the same period last year.

Treasury Secretary Dave Hardy says revenues from September alone were up 3.5 percent mainly due to increases in corporate net income tax as well as severance tax receipts from coal mining and natural gas drilling.

Money, Cash
2bgr8 / Deviantart

West Virginia tax officials say collections of nearly $560 million so far this fiscal year are 3.9 percent higher than last year, though August receipts of almost $307 million were lower than budget estimates.

Treasury Secretary Dave Hardy says the boost in collections is good news for the state two months into its new year.

Roads, Road, Highway, Turnpike
Seicer / Wikimedia Commons

West Virginia tax authorities report collections rose to $73.6 million for the state road fund in July, the first month of higher taxes and fees to support it, exceeding last year's collections by almost $16 million.

Video lottery, slot machine
Wikimedia Commons

Some West Virginia bars and clubs that offer limited video lottery have taken advantage of a new law increasing the maximum number of machines.

Tim Armstead, Eric Nelson
Perry Bennett / West Virginia Legislative Photography

Members in the House of Delegates have approved their budget bill for fiscal year 2018 – bringing $140 million additional dollars in revenue and making $75 million in cuts to government agencies. The House’s budget is largely based on revenue brought in under a Senate bill that was drastically changed by the chamber’s finance committee.

West Virginia State Capitol
davidwilson1949 / wikimedia Commons

  West Virginia’s Secretary of Revenue Bob Kiss says there were few surprises for the state when it comes to tax collections in March, but not a lot of good news.

March 2016 saw no growth in personal income tax or sales tax revenue collections compared to March 2015. Severance tax collections were also down close to 40 percent compared to the same month in the previous year.

Health, doctor, nurse, mask, breathing, health insurance
Dollar Photo Club

The West Virginia Bureau for Public Health announced legislation today that, if passed, could modernize the state’s public health system and increase revenue.

The proposed legislation would make it easier for local health department to bill insurance companies at the maximum allowable rates. 

Currently, the state subsidizes many local programs and services. In a Tuesday press conference, Commissioner for the Bureau for Public Health Rahul Gupta said that this model is unsustainable - especially considering that more WV residents than ever before are insured.

Perry Bennett / West Virginia Legislative Photography

The state’s budget is always the final bill approved by lawmakers before they end their legislative work for the year. But even though that vote won’t come until the end of March, members of the House Finance Committee are already looking for ways to deal with declining revenues. On Wednesday, they focused in on lottery funds.

Flickr / davidwilson1949

  Counties in West Virginia will benefit from an increase in the assessed value of properties owned by utilities and railroads.

West Virginia Property Tax Division director Jeff Amburgey says the assessed value of utility and railroad properties increased by more than $411 million to $9.5 billion in the past year. The increase will provide about $9 million in additional property tax revenue to counties.

Lottery
West Virginia Lottery Commission

West Virginia Lottery officials say revenue continued to drop in January.

The Charleston Gazette reports that state lottery revenue fell 12 percent from January 2013 to $89.45 million.

Racetrack video lottery at the state's four racetrack casinos continued to fall in January, as competition in Ohio, Pennsylvania and Maryland continues to put a crunch on revenues.

wvfunnyman / wikimedia Commons

Huntington Mayor Steve Williams has enacted a hiring freeze and stopped unnecessary spending for the remaining five months of the fiscal year.
 
     Williams said at a City Council work session Thursday that Huntington's revenues and expenditures are normal, but the state's second-largest city has less than $100,000 in contingency funds.