Schuyler sales tax collection up 3 percent

FINGER LAKES—Compared to 2013, the first six months of 2014 indicate the sales tax collections in Schuyler County are up 3 percent. This comes as local sales tax collection in New York state grew by $177 million, or 2.4 percent, for the first half of 2014 compared to the same period in 2013, according to a report issued by State Comptroller Thomas P. DiNapoli. Some 19 counties experienced an increase of more than 4 percent during this period.
“While sales tax revenues continue to increase across the state, the growth is the weakest since the end of the Great Recession,” said DiNapoli. “Sales tax collections in New York City are thriving but several regions are experiencing only modest gains or even declines. Clearly our state’s economy remains in a recovery mode and local government officials will need to be mindful of the volatility of sales tax revenue as they monitor their budgets during the second half of the year.”
Meanwhile, area counties experienced a mixed growth in their sales tax collections, with Yates County decreasing by 0.9 percent and Steuben County increasing by 2.4 percent in the same timeframe.
Upstate sales tax collections were nearly flat in many regions. The Finger Lakes region (0.9 percent), along with western New York (1.7 percent) and central New York (1.5 percent) were outpaced by the capital district (3.5 percent) and mid-Hudson Valley (2.4 percent) during the first half of the year. Due to a number of tax rate increases, growth in sales tax revenue for the North Country (7.6 percent) topped all regions of the state, including New York City.
For a copy of the report, visit: http://www.osc.state.ny.us/localgov/pubs/research/snapshot/localsalestaxcollections0714.pdf.
For a county-by-county breakdown of sales tax collections, visit: http://www.osc.state.ny.us/localgov/pubs/research/snapshot/localsalestaxcollectionstable0714.pdf.