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Comptroller: Local sales tax collection up in Q3

  • / Updated:
  • Staff Report 

State Comptroller Tom DiNapoli’s latest report revealed that local government sales tax collections in New York for the third quarter of 2023 amounted to $5.9 billion, marking a 3.6% increase—translating to over $205 million—compared to the same timeframe in the previous year.

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This uptick in collections is indicative of the second straight quarter where year-over-year growth rates have approached those witnessed before the pandemic.

DiNapoli commented on the trend, noting, “Year-over-year growth in local sales tax collections in the third quarter continued to moderate compared to their pandemic highs.” He further advised local governments to bolster their budgets in anticipation of potential economic downturns.

The findings also highlighted consistent growth across the three months under review (July, August, and September). Notably, New York City observed a boost in its sales tax growth, while 13 of the 18 cities outside of NYC, which have their own sales tax regulations, also reported growth during the third quarter.

Categories: NewsNew York State