Kentucky Fiscal Statistics

StatisNostics/State Financials/Kentucky

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20122021

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State Revenue Analysis (Kentucky: 2012–2021)

Population: 4,383,465 → 4,467,673 (1.9% change)

Overall Revenue Trends

Total Revenue▲ 68.6%

$23,599,006,000 (2012)→$39,795,385,000 (2021)

Per Capita Revenue▲ 65.4%

$5,384 (2012)→$8,907 (2021)

Fund Balances▲ 65.1%

$12,136,542,000 (2012)→$20,043,493,000 (2021)

Revenue Volatility✓ Low

Avg. fluctuation: 6.0%

Major Tax Revenue

Property Tax▲ 33.6%

$529,567,000 (2012)→$707,461,000 (2021)

Sales Tax▲ 49.3%

$3,052,236,000 (2012)→$4,558,439,000 (2021)

Utility Revenue

Solid Waste Charges▲ 9%

$979,000 (2012)→$1,067,000 (2021)

Growth Analysis

Fastest Growing Revenue Sources

Parimutuels Tax▲ 777.4%

$3,601,000→$31,596,000

Federal Intergovernmental Health & Hospitals▲ 536.5%

$260,937,000→$1,660,865,000

Federal Intergovernmental Public Welfare▲ 165.8%

$4,754,682,000→$12,635,781,000

Declining/Slowest Growing Sources

Alcoholic Beverage License Tax▼ 96.2%

$5,917,000→$225,000

Amusement Tax▼ 86.6%

$164,000→$22,000

Elementary Secondary Education Not Elsewhere Classified Charges▼ 79.1%

$273,000→$57,000

Revenue Forecast

Projected Revenue (Next Year)▲ 12.5%

Estimated: $44,758,061,486

Based on 3-year revenue trend

Revenue Composition

2012 Revenue Sources

Federal Intergovernmental Public Welfare20.1%

Individual Income Tax14.9%

Total General Sales Taxes12.9%

Federal Intergovernmental Education5.7%

Hospital Charges4.8%

Higher Education Tuition Charges4.4%

Motor Fuels Sales Tax3.3%

Federal Intergovernmental Highways3.2%

Other Selective Sales Taxes3.0%

Corporation Net Income Tax2.4%

Property Tax2.2%

Unemployment - Contribution2.2%

Miscellaneous General Revenue Not Elsewhere Classified1.7%

Severance Tax1.5%

Federal Intergovernmental Other1.5%

Higher Education Auxiliary Charges1.3%

Interest Earnings1.2%

Tobacco Sales Tax1.2%

Federal Intergovernmental Health & Hospitals1.1%

Net Lottery Revenue1.1%

Federal Intergovernmental Housing & Community Development1.1%

All Other Not Elsewhere Classified Charges1.0%

Workers Compensation - Other Contributions0.8%

Motor Vehicle License0.8%

Donations From Private Sources0.7%

Federal Intergovernmental Other Natural Resources0.6%

Insurance Premium Tax0.6%

Federal Intergovernmental Employment Security Administration0.6%

Occupation & Business License Not Elsewhere Classified0.5%

Alcoholic Beverage Sales Tax0.5%

Corporation License Tax0.4%

Workers Compensation - Interest Earnings0.4%

Fines & Forfeits0.3%

Public Utilities Tax0.3%

Parks & Recreation Charges0.3%

Natural Resources Not Elsewhere Classified Charges0.3%

Regular Highway Charges0.2%

Death & Gift Tax0.2%

Federal Intergovernmental Water Utilities0.2%

Hunting & Fishing License0.1%

Federal Intergovernmental Transit Utilities0.1%

Local Intergovernmental Education0.1%

Motor Vehicle Operators License0.1%

Housing & Community Development Charges0.1%

Federal Intergovernmental General Support0.1%

Rents0.0%

Local Intergovernmental Other0.0%

Alcoholic Beverage License Tax0.0%

Local Intergovernmental Housing & Community Development0.0%

Other License Tax0.0%

Parimutuels Tax0.0%

Documentary & Stock Transfer Tax0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Air Transportation Charges0.0%

Solid Waste Charges0.0%

Federal Intergovernmental Air Transportation0.0%

Elementary Secondary Education Not Elsewhere Classified Charges0.0%

Amusement License Tax0.0%

Amusement Tax0.0%

2021 Revenue Sources

Federal Intergovernmental Public Welfare31.8%

Individual Income Tax13.1%

Total General Sales Taxes11.5%

Hospital Charges7.4%

Federal Intergovernmental Education4.7%

Federal Intergovernmental Health & Hospitals4.2%

Higher Education Tuition Charges3.1%

Other Selective Sales Taxes2.3%

Corporation Net Income Tax2.3%

Federal Intergovernmental Highways2.2%

Property Tax1.8%

Motor Fuels Sales Tax1.8%

Miscellaneous General Revenue Not Elsewhere Classified1.6%

Unemployment - Contribution1.4%

Net Lottery Revenue1.1%

Tobacco Sales Tax1.1%

Higher Education Auxiliary Charges0.8%

Federal Intergovernmental Other0.8%

Federal Intergovernmental Housing & Community Development0.7%

Motor Vehicle License0.6%

Interest Earnings0.6%

Workers Compensation - Other Contributions0.5%

Insurance Premium Tax0.5%

Alcoholic Beverage Sales Tax0.4%

Donations From Private Sources0.4%

Federal Intergovernmental Employment Security Administration0.4%

Occupation & Business License Not Elsewhere Classified0.3%

All Other Not Elsewhere Classified Charges0.3%

Federal Intergovernmental Other Natural Resources0.3%

Corporation License Tax0.3%

Severance Tax0.2%

Public Utilities Tax0.2%

Regular Highway Charges0.2%

Death & Gift Tax0.2%

Parks & Recreation Charges0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Federal Intergovernmental Transit Utilities0.1%

Workers Compensation - Interest Earnings0.1%

Parimutuels Tax0.1%

Hunting & Fishing License0.1%

Local Intergovernmental Education0.1%

Fines & Forfeits0.1%

Federal Intergovernmental Water Utilities0.1%

Motor Vehicle Operators License0.1%

Housing & Community Development Charges0.1%

Toll Highway Charges0.0%

Rents0.0%

Local Intergovernmental Other0.0%

Federal Intergovernmental General Support0.0%

Local Intergovernmental Housing & Community Development0.0%

Documentary & Stock Transfer Tax0.0%

Other License Tax0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Solid Waste Charges0.0%

Federal Intergovernmental Air Transportation0.0%

Air Transportation Charges0.0%

Amusement License Tax0.0%

Alcoholic Beverage License Tax0.0%

Unemployment - Interest Revenue0.0%

Elementary Secondary Education Not Elsewhere Classified Charges0.0%

Amusement Tax0.0%

Key Insights

1Total revenue increased by 68.6% from 2012 to 2021, representing a significant change in the state's financial position.
2Population changed by 1.9%, while per-capita revenue changed by 65.4%.
3The state's fund balances increased by 65.1%, suggesting improved fiscal health.

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State Expense Analysis (Kentucky: 2012 - 2021)

Total Expenditure Trends

Operating Expenditures▲ 18%

$10,167,933,000→$12,022,766,000

Per Capita Spending▲ 16%

$2,320→$2,691

Population Trends

Population Change▲ 1.9%

4,383,465 (2012)→4,467,673 (2021)

Public Safety Expenses

Police Protection▲ 12%

$0 (2012)→$0 (2021)

Fire Protection▼ 0%

$0 (2012)→$0 (2021)

Infrastructure Expenses

Highways Maintenance▲ 3%

$0 (2012)→$0 (2021)

Sewerage Operations▼ 0%

$0 (2012)→$0 (2021)

Administrative Expenses

Financial Administration▲ 15%

$0 (2012)→$0 (2021)

General Expenses▼ 1%

$0 (2012)→$0 (2021)

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State Debt Analysis (2012-2021)

Debt Trends

Total Long-Term Debt▼ 16%

$9,130,760,000 (2012)→$7,676,172,000 (2021)

Industrial Revenue Debt▲ 29%

$5,940,874,000 (2012)→$7,679,828,000 (2021)

Per Capita Debt▼ 18%

$2,083 (2012)→$1,718 (2021)

Population Trends

Population Change▲ 1.9%

4,383,465 (2012)→4,467,673 (2021)

Debt Management

Most Recent Year (2021)

Issued:$408,682,000

Retired:$626,196,000

Net Change:$-217,514,000

Debt Retirement Trend

$914,040,000 → $626,196,000▼ 31%