Sales tax collections down in St. Lawrence County as consumers tighten budgets
Local government sales tax collections dropped by 3% in October compared to the same month in 2021, according to an analysis recently released by State Comptroller Thomas P. DiNapoli. Overall, collections totaled $1.75 billion, up $217 million from October of last year.
In St. Lawrence County sales tax has dropped slightly, signaling that local consumers are tightening budgets with what many expect to be a hard winter with rising energy costs.“October’s sales tax collections saw the strongest monthly year-over-year growth since May, despite the participation of many counties in the gas tax holiday,” DiNapoli said. “However, as inflation continues to increase costs for many municipalities, it is important that local officials recognize that changing economic conditions may impede future collections.”
New York City’s collections totaled $788.5 million, an increase of 17.3% – over $114 million – when compared to October of 2021. Nearly every county also experienced significant year-over-year growth in collections, due, in part, to high inflation. Yates County saw the largest increase at 173.4%. Nearly every county listed saw an increase in sales tax when comparing Oct. 2021 and Oct. 2022. Among cities that impose their own general sales tax, the City of Oneida came in at the highest at 22.8%.
Monthly sales tax distributions are based on estimates by the Department of Taxation and Finance. The distributions in the third month of each quarter are adjusted upward or downward to reflect actual vendor results for the quarter as a whole. The next quarterly numbers (for April-June) will be reported in July.