A report released this week by New York State Comptroller Tom DiNapoli found that sales tax collection had dropped more than 30 percentage points in the last year.
Altogether sales tax declined 32.3 percent came as the state’s economy started to reopen.
“We anticipated that sales tax revenues would continue to drop because of COVID-19 but the May sales tax figures show just how deep it is cutting into municipal finances,” DiNapoli said. “Sales tax revenues are vital funding not only for the state but for municipalities like counties and cities as well. The federal government needs to step up and provide financial help to states and local governments hit hard by this virus to avoid severe cuts to critical services.”
Meanwhile, sales tax collection dropped more than 24 percent in April – making for a devastating two month period.