ALBANY — Local sales-tax collections in New York state increased by 0.2 percent in July compared to July 2023. That’s according to data that New York State Comptroller Thomas DiNapoli released Aug. 19. Overall, local collections totaled $1.82 billion for the month, up $3.1 million from the same time last year. “There was little growth […]
ALBANY — Local sales-tax collections in New York state increased by 0.2 percent in July compared to July 2023. That’s according to data that New York State Comptroller Thomas DiNapoli released Aug. 19. Overall, local collections totaled $1.82 billion for the month, up $3.1 million from the same time last year. “There was little growth in local sales tax collections in July compared to last year,” DiNapoli said. “As local officials start preparing their budgets for next year, they must set realistic expectations for sales tax collections.” A year prior, local sales-tax collections in New York state grew 3 percent in July compared to the same month in 2022. In July, New York City’s collections totaled $768 million, a decline of 1.2 percent, or $9.1 million, compared to the same time last year. County and city collections in the rest of the state totaled $946 million, an increase of 1.2 percent. The data also indicated 40 of 57 counties saw year-over-year increases. These monthly sales-tax collections are from the cash distributions made to counties and tax-imposing cities by the New York State Department of Taxation and Finance. The amounts are based on estimates of what each municipality is due. In the third month of each calendar-year quarter, these distributions are adjusted upward or downward, so that the quarter as a whole reflects reported sales by vendors. The next quarterly numbers (for July-September) will be available in October, DiNapoli’s office said.