Comptroller: Local Sales Tax Collection Rose 3.9% In ’17
ALBANY, N.Y. (AP) — New York state's comptroller says local sales tax collection rose by nearly 4 percent in 2017, making it the highest annual growth since 2013.
Comptroller Thomas DiNapoli announced Monday that collections statewide grew by $620 million to $16.6 billion, a 3.9-percent increase over 2016.
DiNapoli says the biggest surge came during the fourth quarter of 2017, which was nearly twice as much as each of the previous three quarters.
The Democrat says that's good news for municipalities experiencing lower local revenues in recent years. He says local officials should be cautious with their budgets because it's not known yet how the new federal tax law will impact consumer spending.
In the 57 counties outside New York City, sales tax collection grew in all but one: Putnam, in the Hudson Valley.