St. Lawrence County sales tax revenue up 15.3% from 2022 numbers
Local government sales tax collections rose by 15.3% in January through February compared to the period in 2022, according to an analysis recently released by State Comptroller Thomas P. DiNapoli. Overall, collections totaled $12.2 million, up nearly $2 million compared to the same period last year.
Sales tax collection in New York state totaled more than $3.532 billion in the first two months of 2023, an increase of 11.4% or nearly $400 million compared to the same period last year, according to the new report.January and February collections grew by 8.8% and 11.6%, respectively.
In St. Lawrence County, sales tax revenue rose 15.3, up $1.6 million compared to January and February. Total tax revenue collected was $12.2 million, up from $10.6 million in Jan.-Feb. 2022.
“While local sales tax collections continue to experience major growth in 2023, future collections may not grow at such a fast pace,” DiNapoli said. “With the nation and the state facing significant economic challenges, local governments should exercise caution and use responsible budgeting practices.”
New York City’s collections totaled $718 million, an increase of 11.6%, or $74.5 million, over February of 2022. All counties experienced strong increases in February collections, with most seeing double-digit growth. Albany County had the largest increase at 48.8%, followed by Columbia (29.1%) and Yates (26.8%) counties. Onondaga County had the smallest growth at 8.9%.
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.