Local sales tax collections in New York state increased by 2.5% in October compared to the same month in 2022, according to an analysis released today by State Comptroller Thomas P. DiNapoli. Overall, local collections totaled nearly $1.8 billion, up $43.5 million compared to the same time last year.
“Local sales tax collections in October experienced moderate growth,” DiNapoli said. “October’s increase marked the fourth straight month of overall growth between 2% and 4%. A return to relatively consistent year-over-year growth in sales tax collections, as was seen in the years before the pandemic, is a positive sign of stability and could help local officials better estimate this source of revenue.”
For October 2023, compared with October 2022:
- New York City’s collections totaled $809 million, an increase of 2.6%, or $20.7 million.
- County and city collections in the rest of the state totaled $880 million, an increase of 2.2%.
- A majority (45 out of 57) of counties experienced some year-over-year increase.
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 October to December) will be available in January.