WPCNR QUILL & EYESHADE. By John F. Bailey with data from the New York State Department of Taxation and Finance. UPDATED WITH CORRECTION. July 20, 2015:
The City Sales Tax Receipts for the month June were 21% less than last year, the Department of Taxation and Finance reported Thursday, leaving the city 2014-15 sales tax receipts $800,652 less than last year when the city collected $51,856,187. This year the city final sales tax receipts were $51,055,529.
Last June White Plains collected $5,385,000 in sales tax dollars, this year the city received $4,254150 in sales tax receipts, a decline of 21%.
The County Sales Tax receipts through the first half of the county budget year of 2015, were down 2.6%. Westchester County has collected $245.2 Million through June compared to last year’s mid-year total of $251.7 M, a differential of 2.6%. The County June 2015 sales tax dollars were down 8% reflecting the White Plains performance.
The White Plains fiscal year does not leave the city with a deficit, but does raise questions as to how the city economic “recovery” is doing. Since the city last raised its sales tax in 2010 with approval of the state legislature, the city sales tax receipts have been flat the last 5 years.
They have risen one year above the 2011 total, while inflation over those 5 years has risen 12%. The city sales activity has not kept pace with inflation.