Tennessee revenues exceeded budgeted estimates for the month of July. Department of Finance and Administration Commissioner Jim Bryson reported that total July tax revenues were $1.8 billion, which is $125.5 million more than the budgeted estimate and $134 million more than July 2024. The total tax growth rate for the month was 7.87 percent.
General fund revenues were $130.3 million more than the July estimate, and the four other funds that share in state tax revenues were $4.8 million less than the estimates.
On an accrual basis, July is the last month in the 2024-2025 fiscal year.