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Local sales tax revenue climbed 4% in August, DiNapoli says

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  • Staff Report 

Local sales tax revenue in New York climbed 4% in August reaching $1.78 billion, compared to the same period last year, the state Comptroller Tom DiNapoli’s office announced Monday. This marked an uptick from the $67.9 million collected in August 2022.

Within the state, New York City reported a collection of $760 million, a modest rise of 1.2%. Meanwhile, collections from other cities and counties in the state amounted to $913 million, witnessing a more substantial growth of 5.6%. Schuyler County led with a staggering 63.3% growth, while Orleans County observed the sharpest drop at 7.7%.

Comptroller DiNapoli commented on the continuous moderate sales tax increases observed throughout 2023 noting “Local officials should budget accordingly as growth rates near pre-pandemic figures and should remain vigilant about cash flow in the coming times.” Monthly sales tax figures are estimated by the state Department of Taxation and Finance based on distributions made to tax-imposing cities and counties.

Categories: New York StateNews