Local sales tax collections in New York state increased by 1.1% in May compared to the same month in 2022, according to an analysis released today by State Comptroller Thomas P. DiNapoli. This is the third consecutive month in 2023 of less than 2% growth. Overall, local collections totaled $1.71 billion in May, up $18.4 million compared to last year.
“Modest growth in local sales tax collections could be challenging for local officials trying to maintain fiscal balance,” DiNapoli said. “Being prepared for a slowdown is especially important in this uncertain economy.”
For May 2023 compared with May 2022:
- New York City’s collections totaled $744 million, an increase of 3.3%, or $23.5 million.
- County and city collections in the rest of the state totaled $862 million, a decrease of 1.8%.
- Most (47 out of 57) counties experienced some year-over-year decline.
- Franklin County had the largest decline at 11.4%.
- Rockland County experienced the strongest growth at 7.2%.
Monthly sales tax collections are from the cash distributions made to counties and tax-imposing cities by the state Department of Taxation and Finance. The amounts are based on estimates of what each municipality is due. In the third month of each calendar year quarter distribution figures are adjusted upward or downward, so that the quarter as a whole reflects reported sales by vendors. The next quarterly numbers (for April to June) will be available in July.