Sales tax revenue for local governments in New York dropped 5.2% last month compared to the same period last year, continuing a trend of plummeting revenue during the coronavirus pandemic.
The drop is the eighth straight month sales tax collections for local governments have seen a year-over-year decline.
All told, October sales tax collections totaled $1.4 billion, a decline of $74.4 million less than October 2019. Still, the decline has slowed compared previous months during the pandemic, according to a report released on Friday by Comptroller Tom DiNapoli.
“Statewide local sales tax collections have declined year-over-year for eight straight months,” DiNapoli said. “Our local governments are on the forefront of the pandemic response and they need financial aid from the federal government to help them get through this crisis.”
Sales tax revenue is important for county governments because it enables them to offset costs as well as increases in other taxes, like the property tax.