A report from the Pew Charitable Trusts ranks Maryland’s state tax system as the third most stable among all fifty states.
The report, assessing the volatility of state revenue sources, was released this week. From the Pew website:
Nationwide, overall state tax revenue had a volatility score of 5.1 for the 20 years ending in fiscal 2015, up slightly from 2014’s score of 5.0. This means that total tax revenue across the states typically fluctuated 5.1 percentage points above or below its overall growth trend. Tax revenue was more volatile than the national benchmark in 30 states and less so in 20 states.
Maryland rated a volatility score of 3.5 on the Pew index – with only South Dakota and Kentucky grading a lower score. That indicates that the Maryland system of revenues is less prone to dramatic fluctuations year to year than that of most other states.
Visit the Pew website for more details, and an interactive map including the report’s findings.