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Double-digit drop in Westchester sales tax revenue

John Golden

Sep-03-09, 12:49 PM

3 Votes

Topics: Retail, Sales

Westchester and Putnam counties had the largest year-to-year declines in local sales tax revenue in the state through the first seven months of 2009. They were among six counties statewide with double-digit drops in sales tax revenue through July.

Across the state, sales tax revenue through July was down $640 million, or 8.9 percent, compared to the same period last year. County sales taxes, which account for most of the tax revenue reaped outside New York City, declined by $291 million or 7.6 percent. Of the state’s 57 counties, 53 experienced declining sales tax collections for the period.

That decline prompted state Comptroller Thomas P. DiNapoli to issue a warning to municipalities as retailers looked for a sales boost from back-to-school shoppers.

“Back-to-school shopping makes September a very important month for sales tax revenues,” DiNapoli said. “Local governments need to take a hard look at the September data. Just like the state, if local governments are not on track to meet their budgeted revenues for the year, they need to make adjustments in their spending now without placing a greater burden on local taxpayers.”

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1 Comment

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Tax Liens makes this comment

Monday, 28 September 2009

That is a great chart. In Elliott wave terms we are really declining in inventory. I think it will over shoot your balance area and get well over done.

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