Figures released last week show Maricopa County’s tax revenues continue to plummet as county departments prepare for a 20% budget cut in fiscal 2010.

Revenue from the county’s sales tax, vehicle licensing tax, and jail excise tax are down 9% from fiscal 2008 and 7% under the estimates. Collections are off $25.5 million for the year.

Sales tax revenue, the county’s largest funding source, was $15.3 million below expectations, with $5 million of the drop recorded in just one month. Vehicle tax revenues were off $4.3 million, about 6% under earlier estimates, with the jail tax down almost $6 million, almost 9% less than expected.

The county’s debt is rated Aa1 by Moody’s Investors Service and AAA by Standard & Poor’s and Fitch Ratings.

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