Local News

Sales Tax Collections Show Decline in County Compared to 2023

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The latest sales tax figures are in for sales tax collections in New York State by Comptroller Thomas DiNapoli’s Office and while overall state collections were up, Cortland County shows a 3.5% decrease when collections of January of 2024 is compared to January 2023.

In January 2023, Cortland County had sales tax collections totaling $3.26 million dollars. This year, January 2024, revenues fell to $3.14 million dollars.

Neighboring Tompkins County had revenues down slightly more. Tompkins had revenues fall by 3.9% totaling $5.22 million dollars in sales tax collections for January 2024. In 2023, the county had collections of $5.43 million dollars.

“Year-over-year growth in local sales tax collections has slowed significantly, with a nearly flat increase this January compared to last year when inflation was more than twice as high and New York City’s taxable sales were surging,” DiNapoli said. “With overall growth having moderated over the course of 2023, local officials should remain cautious in their sales tax revenue projections for 2024.”

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