WHITE PLAINS SALES TAX REVENUES CLOSE CITY FISCAL YEAR JUST ENDED DOWN 2% FROM 2014-2015. City ECONOMIC ACTIVITY SLUGGISH. COUNTY UP 1.3% AFTER 6 MONTHS

WPCNR QUILL & EYESHADE. BY JOHN F. BAILEY. July 26, 2016:

A $4,441,089 JUNE sales tax “handle,” 4.3% more than June, 2015 averted  a significant deficit as the City  of White Plains closed the books on 2015-16.

However the city closed the year $1,181,049 down from last year’s record sales tax revenues of $50,972,587, with the city generating $49,791,538 in sales taxes in 2015-16. This is a 2% decline.

This leaves the city with the decision whether to trim the adopted budget slightly or cross their fingers that revenues will rebound in back-to-school sales in August. The city earned $24,693,082 the second half of the fiscal year January to June, 2016, compared to $25,304,999, January to June, 2015, a decline of 2.4%.

Westchester County through the first six months of its fiscal year  generated 1.3% more sales tax revenues than the first half of 2015. In January to June of this year the county has earned $248,378,272 in sales tax revenues compared to $245,255,067 January to June 2015.

The Westchester County budgeteers predicted they would earn 14% more in sales revenues in 2016, which seems very unlikely to be met since they are only up 1.3%.

 

 

 

 

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