Big May and Big June Needed to Meet, Beat Last Year’s Sales Tax Numbers…Currently $800,000 Behind
WPCNR QUILL & EYESHADE. By John F. Bailey, based on data from the New York State Department of Taxation and Finance and the City of White Plains Budget. May 31, 2017:
The April Sales Tax Revenues for White Plains continue soft down $375,129 from the same month a year ago ($3,521,122 in April 2017 compared to $3,896,251 in April, 2016.
April is the fourth straight month of slight declines in White Plains sales tax collections year to year. In the first four months of 2017 the City collected $15,748,892 in sales tax. In the first four months of 2016, it received $16,568,444. The $15,748,892 figure this April represents a decline of $819,592 or .049% (1/2%).
Westchester County in contrast is 1/2% ahead in its Sales Tax Collections.
According to the Department of Taxation and Finance monthly sales tax report, through April, the 10th month of the city fiscal year ending in June the city has received $41,311,596 in sales taxes compared to $49,436 in 2015-16., a decline of .07%.
If the city collects the same sales tax revenues in May and June, the last two months of the fiscal year, ($8,124,636) the city will collect $49,436,232 in sales tax revenues to conclude the 2016-2017 fiscal year. That $49,436,232 is down from the $51,856,187 the city collected in 2013-14 (an all-time high).
Over the last 5 years, the city sales tax handle has eroded, not keeping pace with inflation:
2013-2014: $51,856,187 (All-time High)
2016-2017: $41,311,596 (10 Months),
$49,436,232 (Projected if May June Sales Tax Collections meet last year’s totals.
Westchester County Sales Tax Collections for the first four months of 2017 are up $906,805 through April 2017, $163,231,109 to $162,324,304, a pace of ½ percent UP over last year. This, despite being lower in the month of April Collections over last year by ½% (.04)