Local Sales Tax Revenue Slow For First Half Of 2013
State Comptroller Thomas DiNapoli says that local sales tax collections in New York State have grown by 5.7% overall but collections are uneven between downstate and upstate.Central New York has seen local sales tax growth of 2.3%, but when compared to New York City’s 7.5% Dinapoli is worried that some local budgets will be under increased pressure.
“The growth in sales tax revenue is a promising sign for many communities,” DiNapoli said. “Unfortunately the economic improvement has been uneven and the trends are headed in the wrong direction for some of our most vulnerable municipalities. Sales tax revenues are a vital source of revenue for local governments.”
The comptroller’s office says that some variation in the numbers is expected but the overall pattern could mean a slowing of the upstate economy.
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