by Calculated Risk on 2/09/2007 09:52:00 PM

From the St. Petersburg Times: Tax shortfalls crimp budget

State taxes and fees collected were $108-million short of projections for January. That’s on top of a revenue snapshot in November that was $466-million below the expected figure.

For state officials, that is ample evidence of a tamped-down economy that could mean fewer new programs and services. It’s still too soon to tell.
...
Most of the projected revenue shortfall is in sales taxes, the largest source of state revenue. Another area of sluggishness is in taxes on real estate transactions, known as documentary stamps — further evidence of a slowdown in the once-sizzling Florida real estate market.
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“It’s all related to housing,” said Randy Miller, executive vice president of the Florida Retail Federation. “But after years of double-digit increases in tax collections, we’re not that concerned.”