The Ohio Department of Taxation (ODT) posted the June 2021 Public Library Fund (PLF) distribution of $50,768,301 – which is $17.45 million (+ 52.35%) above ODT’s original estimate that was issued in July 2020; and $13.72 million (+ 37.04%) above ODT’s updated estimate issued in December 2020. This reflects the delay in personal income tax filings from April to May and is realized in the June PLF distribution.
The PLF Calendar Year (CY) 2021 year-to-date total is $227,167,842 and the Fiscal Year (FY) 2021 year-to-date total is $452,089,524.
According to preliminary information from the Office of Budget and Management (OBM), overall state tax receipts for the month of May came in $744.7 million (or + 34.1%) above estimates. So far, State Fiscal Year 2021 tax collections are$1.17 billion (+ 5.2%) over estimate.
According to OBM, “The significant overage reflects the one-month postponement of tax year 2020 income tax return payments, from April 15 to May 17, which was not anticipated in the revenue estimate. This month’s result makes up for the negative variance in April.”
A look at the PLF distribution for the past three years and a link to an Excel spreadsheet listing each county’s distribution total for June 2021 can be found on the OLC website.