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sales tax revenue down...
Release Date: July 27, 2015

The town of Greenburgh is committed to complying with the tax cap -which limits tax increases.  Unlike some government entities in the region and state  our tax increases have been below the tax cap every year since the cap was enacted.  Greenburgh, like many other communities in the region, will have to find additional revenue or more efficiencies  to make up for the sales tax losses. Sales tax is down 2.42% at 6/30/15 vs. 6/30/14. If that trend continues for the remainder of 2015, sales tax will be down $152,000. (2014 was $6,262,000; 2015 would be $6,110,000).
 
The growth in sales tax collections has slowed down compared to last year, with five of the state’s 10 economic regions showing a decline, according to a new report from state Comptroller Thomas DiNapoli.
Outside the city, Westchester County saw a 2.59 percent decline, while Rockland was largely flat and Putnam saw a 3.15 percent drop from the front half of 2014.
“There has been a general downward trend in sales tax collection growth over the last several years and that is continuing in 2015,” DiNapoli said in a statement. “The slow growth in sales taxes could pose fiscal challenges for local governments across New York, especially for counties who rely heavily on sales tax collections to pay their bills.”
DiNapoli’s report is below. The individual county and city collections can be found here.
Local Sales Tax Collection Table 0715
https://www.scribd.com/embeds/272492176/content?start_page=1&view_mode=scroll&show_recommendations=true
Paul Feiner
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