State revenues rise in April, but Spanberger wary of economy

State revenues rise in April, but Spanberger wary of economy

Virginia tax collections show no sign of economic trouble, exceeding the state budget forecast by $851 million for the first 10 months of the fiscal year, but Gov. Abigail Spanberger is taking no chances.

Governor Spanberger Announces Virginia Revenue Growth of 7.3 Percent

Tweet RICHMOND, VA — Governor Abigail Spanberger today announced that April revenues grew 6.9 percent compared to the previous April. On a fiscal year-to-date basis through the first ten months of Fiscal Year 2026, collections have grown 7.3 percent. Growth has been driven by strong individual income tax and strong sales tax receipts, while corporate income taxes have lagged. Compared to the official forecast assumed in the amended budget, reven…