ODT Posts January 2025 PLF Distribution

The Ohio Department of Taxation (ODT) posted the January 2025 Public Library Fund (PLF) distribution of $41,236,569 – which is $6.3 million (or + 18.18%) above ODT’s original estimate that was issued in July 2024; and $80,097 (or – 0.19%) below ODT’s updated estimate issued in December 2024.

Distributions in late December from the 2024 expanded sales tax holiday have caused some confusion in measuring state tax collections. According to the Office of Budget and Management (OBM), total General Revenue Fund (GRF) tax receipts were $140.8 million (-5.4%) below estimate when the Sales Tax Holiday transfer was added to the Sales & Use category total. Excluding the impact of the Sales Tax Holiday transfer, GRF tax receipts exceeded the monthly estimate by $319.7 million (16.7%).

In addition to their Monthly Financial Report, OBM posted their Annual Financial Report for FY2024. According to the report, GRF tax revenues decreased by $971.2 million (-3.4%) in FY2024 as compared to FY2023.

“Overall, tax revenues to the GRF are solid through the first six months of fiscal year 2025, running 2.6 percent ahead of projections, mostly due to lower-than-anticipated income tax refunds. Combined Sales Tax revenues are right at estimate for the fiscal year-to-date, with a positive $7.6 million variance compared to forecast. Ohio’s budget is conservative and balanced, and OBM continues to analyze the data to inform our forecast for the upcoming biennium.” said OBM Director Kim Murnieks in a statement last week.

A more detailed explanation is included in OBM’s Monthly Financial Report and Annual Financial Report.

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 January 2025 can be found on the OLC website.