In its processing of local government revenues, Statistics Iceland has noticed an overestimation in revenues from street construction tax and building rights in 2003-2006. In the government finance statistics these revenues are presented gross, but most municipalities record these kinds of revenues net in their accounts. The revenues are now revised in accordance with more detailed information and the main results are shown in the table above. The net lending/borrrowing balance is not as positive in 2005 and 2006 as previously was estimated and the balance in 2003 and 2004 has detoriorated slightly. Consequently, the Statistics Iceland website has been updated.

Statistics