Third quarter 2012 (2012:3) tax revenues for state and local governments, as compared with third quarter 2011 (2011:3), were up 5.3 percent, marking the twelfth consecutive quarter of positive year-over-year growth. Tax revenue for the quarter totaled $302.9 billion, as compared with $287.7 billion reported for the third quarter of 2011 (see Figure 1).

The largest tax categories, (property, individual and corporate income, and general sales tax) all showed growth over the same quarter in 2011.