Comptroller: Local Sales Tax Collections Slowed A Bit
With local sales tax collections totaling just under $6 billion in the second quarter of 2023, New York State Comptroller Thomas DiNapoli says the figure is slow, comparing the returns to pre-pandemic levels.
According to the comptroller, local government sales tax collections in New York State totaled $5.7 billion from April through June 2023. The collections were an increase of 3%, or nearly $167 million, compared to the same period last year, according to the comptroller's latest report. The second quarter collections were not as good as the "robust" first quarter collections and growth of 7.1% from the previous year.
“Growth in local sales tax collections slowed in the second quarter, returning closer to pre-pandemic trends after significant volatility during the pandemic period,” DiNapoli said via a press release.
According to the comptroller's report, June's returns boosted the second quarter's numbers with a collection of 5.8%, more than five times the months of April and May. Additionally, in 15 of 18 cities outside of New York City, collections saw growth.
The bad news came as New York City saw just a "modest' increase, large counties as a 'tepid" increase, and overall gas tax collections were down by 19%, the report stated.