Local sales tax collections in New York state increased by 1.6% in February compared to the same month in 2023, according to data released today by State Comptroller Thomas P. DiNapoli. Overall, local collections totaled $1.67 billion, up $26.8 million from the same time last year.
“February’s local sales tax collections grew at a modest pace, year over year, after coming in nearly flat in January,” DiNapoli said. “But this was largely driven by New York City, with nearly all regions outside the city experiencing year-over-year declines for the month. It is imperative that local government officials take these results into consideration as they make budgetary decisions.”
In February 2024:
- New York City’s collections totaled $759 million, an increase of 5.7%, or $40.7 million, from a year earlier.
- County and city collections in the rest of the state totaled $805 million, a decrease of -2.2%.
- Nearly two-thirds (37 of 57) of counties experienced year-over-year decreases.
These monthly sales tax collections are from the cash distributions made to counties and tax-imposing cities by the state Department of Taxation and Finance, and the amounts are based on estimates of what each municipality is due. In the third month of each calendar year quarter, these distributions are adjusted upward or downward, so that the quarter as a whole reflects reported sales by vendors. The next quarterly numbers (for January to March) will be available in April.
