Sales tax revenue drops in Yates, Schuyler
TRI-COUNTY AREA—There are just three months left of sales tax revenue going to counties this fiscal year, and so far it hasn’t been what some expected.
Year to date comparing 2010 to 2009, Yates County is down .47 percent. Bonnie Percy, county treasurer, said so far this year Yates got $6,795,395 from sales tax revenue. While it is a small percent decrease during hard economic times, Percy said some of the legislators thought it should have been more. She added, that small decrease will probably be close to the year end number in three months.
“With what we’ve got so far, it’s at least on budget,” she added.
Percy also explained there are always adjustments being made by the New York State Department of Finance and Taxation that might mean a sudden change in the revenue.
In comparison, the state’s revenue increased 4.26 percent so far this year. Steuben County mirrored that kind of an increase with 4.76 percent. However, Schuyler County saw a drastic change of 10.32 percent down over last year. Year to date, Schuyler has gotten $29,654,028.90 in sales tax revenue. During the same time last year, it was $31,066,964.15.
Unlike Yates and Steuben Counties, Schuyler only has a four percent sales tax. The other two have eight percent. New York recently reinstated a four percent sales tax, Oct. 1, on any individual purchase that is under $110.
Yates and Steuben currently have a county implemented sales tax of four percent, equaling the eight percent. In preparing the 2011 budget, the Schuyler County Legislature is considering reinstating its own four percent sales tax.