New York State Comptroller, Thomas P. DiNapoli, says local sales tax collections in the state have increased by 3% in July compared to last year. Local collections totaled $1.82 billion dollars, a $53.3 million dollar increase when compared to the same period last year.
“Local sales tax growth in July continued at a moderate pace, similar to growth rates from before the pandemic,” DiNapoli said. “This may be slower than some local officials anticipated after two years of more robust growth, making careful cash flow monitoring especially important.”
So far this year, Cortland County has seen a 1.4% increase in sales tax revenue, totaling $22.35 million dollars from January through July of 2023. For the month of July alone, the county saw a 2% increase in collections, 1% shy of the state average, with a total collection of $3.18 million dollars.
Out of 57 counties in the state, 54 saw a type of year-over-year increase in collections.
