Sales tax revenue continued its months-long growth in New York, increasing by 8.8% in November compared to the same time a year ago as inflation continues to play a role in the prices consumers are paying.
Though inflation has cooled somewhat in recent months, local tax collections reach $1.72 billion, according to state Comptroller Tom DiNapoli's office.
That's a $139 million increase compared to November 2021, DiNapoli said.
“November marked another solid month for sales tax collections for local governments,” DiNapoli said. “Although many forecasters are predicting that national retail sales will be strong this holiday season, local officials should continue to monitor the economic factors impacting sales tax when estimating their own revenue projections for the remainder of the year.”
In New York City, sales tax collections grew by 10.7%, a $74 million increase over November 2021 and reached $770 million. Nearly every county in New York state saw a year-over-year increase in sales tax. Wyoming County saw the largest hike at 17.5%.
But Rockland County posted a decline and the steepest in the state of 11.3%.