Local sales tax collections across New York state totaled $1.75 billion in October, according to an analysis released by State Comptroller Thomas P. DiNapoli. This represents a 14.1% year-over-year increase.
“October”™s sales tax collections saw the strongest monthly year-over-year growth since May, despite the participation of many counties in the gas tax holiday,” DiNapoli said. “However, as inflation continues to increase costs for many municipalities, it is important that local officials recognize that changing economic conditions may impede future collections.”
Yates County experienced the largest increase at 173%, although DiNapoli acknowledged this was due to a large technical adjustment made to the county”™s collections. Allegany and Rockland counties saw the next largest growth at 29.8% and 21.2%, respectively, while Chenango County had the steepest decline with -16.1%; Westchester recorded a 14.6% year-over-year increase.
