RICHMOND — Virginians are taking home less pay, spending less in stores and are still getting hit on their investments, new state tax collection statistics show.

Business profits are up sharply, according to the statistics, but with retail sales lagging, when that will translate into new hiring and investment is still unclear, economists say.

The deepening recession is expected to slash Augusta County’s personal property tax revenues and investment income by almost $3 million next fiscal year, officials say.

Coaches across Augusta County look for ways to raise money for their athletic programs

Waynesboro City Council members learned Monday that the city is experiencing a revenue gap of nearly $1.4 million in fiscal year 2009.

In the last three years, Waynesboro has lost out on more than $4.6 million in revenue from uncollected personal property taxes, and had the city imposed a late filing fee, could have collected an additional $207,000 to $635,000, according to data from city Commissioner of Revenue Don Coffey.