U.S. State, Local Tax Revenue Rises at Slowest Pace in Year
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U.S. state and local-government tax collections grew at the slowest pace in a year during the last three months of 2011, marking a step back from gains that helped ease strains on public agencies.
Revenue rose 2.1 percent in the fourth quarter from a year earlier to $387.2 billion, the ninth-straight gain, the U.S. Census Bureau said today in Washington. The increase was the smallest since the end of 2010. Property taxes rose 0.2 percent from a year before, the second-straight gain.