Given how dismal the economy has been for quite some time, it's fair to assume that pocketbooks all across Greensboro are feeling a little lighter these days. But one entity isn't feeling a pinch in its bank account. That entity is the state of North Carolina itself.

Earlier this fall, the state announced that it had a $140 million tax revenue surplus. That is about three percent above where lawmakers had been told the state balance sheet would even out. That money, collected from things like state property taxes and sales taxes, came as something of a surprise to elected officials, who were not thinking such good news could ever pierce the current economic gloom.

That being said, it is far too early to celebrate yet. North Carolina's unemployment rate is still hovering around the alarming 10 percent mark and that means future tax revenue projections could be off, since fewer people working means fewer people are earning money and buying things. That, of course, translates into less tax collected.

State lawmakers have not said what they plan to do with the overage. While $140 million is a lot of money, it probably would not go too far in the grand scheme of things. The state government spends billions of dollars every year, so dividing up this unexpected windfall would probably result in just a little bit of extra funding going to several different programs.

Regardless, some property owners might not be happy to hear that the state is collecting even more than it thought it would. Property taxes can be a huge bite out of a household's budget. If you ever get turned around on your property taxes or feel there must be some way to pay a property tax that is more in line with the value of what you own, you may want to speak to an attorney about the matter. Attorneys who are familiar with this kind of law often can help clients make sure that they are not paying more than their fair share.

Source: The Greensboro News & Record, "N.C. has $140 million tax revenue surplus," Gary D. Robertson, Oct. 5, 2011