NEW CASTLE, Del. (AP) - The panel that sets Delaware's official financial projections made only minor tweaks in submitting its final revenue forecast for the year.
The Delaware Economic and Financial Advisory Council on Monday lowered its revenue estimate for the current fiscal year by $2.6 million compared to September's estimate.
Officials say higher projections for corporate franchise and related taxes were offset by lower expectations for corporate income taxes. A $6 million refund of abandoned property taxes and lower estimates for gambling revenue also led to the downward revision.
For fiscal 2015, which starts July 1, the panel increased its revenue estimate by $5.7 million, based largely on higher projects for real estate transfer taxes.
Gov. Jack Markell's budget officials will use the revised numbers in finalizing the budget he will propose in January.
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