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April Sales Tax Collections Decline Over 24 Percent After COVID-19 Shutdown

Plummeting sales tax collections were widespread, leaving counties, cities and some other local governments short by about $327 million compared to last year. Although the first quarter of 2020 was relatively strong, March sales tax collections had already begun to show the impact of the COVID-19 shutdown–a decrease of 3.7 percent statewide with the largest declines downstate. The April figures show shrinking revenues for local governments throughout the state. 

Local Sales Tax Collections Decline by 10 Percent in 2020, With Major Shifts in Consumer Spending

New York State local sales tax collections declined by 10 percent (or $1.8 billion) in 2020 compared to 2019, due to the economic impact of the COVID-19 global pandemic. New York City, which was hit earliest and hardest by the pandemic, saw its collections decline by 18.7 percent in 2020, while counties outside the City saw an average drop of only -0.9 percent. 

2nd Quarter 2021 Local Sales Taxes Surge 49.2 Percent; Strong Even Compared to Pre-Pandemic Period

Local sales tax collections in New York State grew by 49.2 percent, or just over $1.6 billion, in the second quarter of 2021 compared to the same period last year, a dramatic increase from last year’s weak collections during the first wave of the COVID-19 pandemic. Even so, when compared to pre-pandemic levels, the second quarter of 2021 was still strong – up 8.7 percent, or $396 million, above the same period in 2019.

August Local Sales Tax Collections Grew By Over 15 percent

Local government sales tax collections in August increased by 15.5 percent, or $204 million, over the same month in 2020, making it the fifth month in a row that collections exceeded 2020 results. The double-digit growth in local sales taxes reflects the fact that collections during August of 2020 were fairly weak as sales activity was recovering in certain parts of the state from the early effects of the pandemic. 

Fiscal Stress Monitoring System - School Districts: School Year 2019-20 Results; 2020-21 Risks

This snapshot highlights the FSMS results for school districts that reported for school fiscal year (SY) 2019-20, which ended on June 30, 2020, which included the period of the statewide mandatory school shutdown from March 18 through the end of the school year. The snapshot also discusses some of the major fiscal stress risk factors posed by the pandemic for school districts in SY 2020-21 (not yet scored).

Pandemic and Recovery: Local Government Finances and Federal Assistance - Lessons from the Mid-Hudson Region, October 2021

The case studies described in this report provide insight into some of the fiscal challenges that the COVID-19 pandemic presented to individual local governments in 2020. OSC staff conducted interviews and financial analysis in late fall 2020, choosing the Mid-Hudson region as the geographical focus. The City of Peekskill, the Town of Cornwall and the Village of New Paltz agreed to participate in the study. Each had its own unique experience in 2020, but each also shows some of the typical problems facing local governments throughout the region and the State.

Strengthening New York City’s Rainy-Day Fund, November 2021

In early 2021, New York City established a rainy-day fund, to better prepare for financial downturns. This report lays how the City can ensure resources are available when needed, by establishing a clear and written purpose for the funds, creating targets for how much should go into the fund each year and setting the conditions for withdrawals. The report also found the City’s reserve policies are not as robust as other large U.S.