State officials say the decline in tax revenues last month is another signal that an economic slowdown has hit Vermont.
May revenue figures show the personal income tax revenues were down almost 13 percent; the sales tax and property transfer taxes were down over 6 percent, and the motor vehicle purchase and use tax was down 4 percent.
Meanwhile, gas tax revenues were down almost 5 percent while diesel fuel revenue was down almost 28 percent.
Administration Secretary Mike Smith says it’s good that people are driving less, but it does hurt fuel tax revenues.
Smith says the administration is expecting the difficult financial situation to continue into the next fiscal year, which begins July 1.