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Thuringia is happy about record tax revenue: 1 billion more in sight!
Thuringia expects increasing tax revenues in the coming years, with forecasts of over 600 million euros for infrastructure.
Thuringia is happy about record tax revenue: 1 billion more in sight!
There is good news in Thuringia for the coming years: citizens and municipalities can prepare for additional tax revenue that will fill their coffers. That reported MDR in a recent report. On the occasion of the autumn tax estimate, Finance Minister Katja Wolf (BSW) emphasized that this year's revenue will be a whopping 280 million euros above the last budget estimates.
But things also look rosy for the coming years: 380 million euros more are expected for 2026, while in 2027 and 2028 revenues are expected to be 197 million euros and 182 million euros above the original estimates, respectively. What is particularly pleasing is that Thuringia's municipalities can also expect a total of 250 million euros in additional revenue by 2029 compared to the May tax estimate. This could bring relief for communities and make it easier to invest in local projects.
Outlook on the financial situation
The Thuringian state government plans to budget more than 600 million euros from the federal government's special fund for infrastructure investments in the 2026/2027 double budget. These financial resources could help launch important projects and improve the country's infrastructure.
Challenges and reduced income
Nevertheless, Thuringia could achieve a record value of 9,832 million euros in tax revenue in 2024. Continued growth in tax revenues of an average of 3.2 percent annually is forecast for the next few years. However, municipalities must expect global underspending and falling revenues, which could impact their financial planning.