New York’s Local Sales-Tax Collections Up 21%, Comptroller Says
(Bloomberg) -- Local sales-tax collection in New York were up 21% in July compared to the same period last year, marking the fourth consecutive month that collections exceeded 2020 results, according to a news release from state Comptroller Thomas DiNapoli.
The Empire State collected $1.6 billion in revenue from sales taxes in July, up $276 million from a year earlier, signaling a strong rebound following the steep decline in 2020 because of lockdowns from the pandemic.
“Last month’s impressive sales tax performance reflects this year’s strengthening economy and positive jobs numbers,” DiNapoli said in a statement. “However, with recent increases in infection rates occurring across the state, local officials must continue to monitor changing economic conditions and maintain vigilance when it comes to their finances.”
New York City collections totaled $649 million, an increase of 14.2% compared to the same time last year. Counties outside of New York City saw year-over-year collections for July grow by double digits including 17.3% in Lewis County to 35.7% in Wayne County.
The growth in local sales taxes reflects that during the same time last year, sales were recovering from the first wave of the pandemic. Collections were $159 million above July 2019, an 11.2% increase, DiNapoli said.
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