In a positive economic indicator for New York State, local sales tax collections in November 2023 saw a 5.1% increase compared to the same month in the previous year, as reported by State Comptroller Thomas P. DiNapoli.
This growth translated into a total collection of $1.81 billion, marking an $88.6 million rise from November 2022. DiNapoli noted this uptick as a sign of increased consumer spending across the state, particularly as the holiday season approached, with all regions contributing to the year-over-year growth.
Breaking down the numbers, New York City experienced a significant increase of 5.8%, contributing $815 million to the total, which is $45 million more than the previous year. In the rest of the state, county and city collections amounted to $887 million, up by 4.4%.
Notably, nearly all counties (55 out of 57) reported increases in their year-over-year tax collections. These figures are derived from cash distributions made by the state Department of Taxation and Finance to counties and tax-imposing cities, based on vendor-reported sales. Adjustments to these distributions are expected in the third month of each quarter, with the next comprehensive quarterly report due in January.
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