WHITE PLAINS BUSINESS HAS BIG HOT SUMMER. SALES TAX RECEIPTS UP 7% IN JULY AUGUST. AUGUST ’17 RECEIPTS UP 21% OVER JULY ’17. COUNTY UP 6.1% in 1 Month; 2-1/2% for 1st 7 Months of Fiscal Year

WPCNR QUILL AND EYESHADE. From the New York State Department of Taxation and Finance with WPCNR analysis. September 28, 2017:

The first two months of the White Plains Fiscal Year are up 7.1% in sales tax receipts, according to figures released by the NYS Department of Taxation and Finance, and 21% in August compared to July figures.

The August report shows White Plains receiving $4,702,800 in sales taxes in August compared to $3,888,289 in July.

Kevin Nunn, Executive Director of the White Plains Business Improvement District, theorized to WPCNR that part of the increase in the sales tax “handle,” (the largest month to month rise ┬ásince WPCNR has been tracking White Plains sales tax receipts activity) may be traced to commercial vacancy rates narrowing from 22% to 16.1% from July-August 2016 to July-August 2017, (bringing more potential customers to restaurants and malls).

WPCNR notes the $4.7 Million August figure is just shy of average December “handles” (usually the highest month of sales receipts)numbers.

Westchester County up 9% in August ’17 over August ’16, Sales Tax $$ Up $8.5 Million for First 7 Months of 2017 Fiscal Year. 6.1% Increase from July 17 to August 2017

Westchester County sales tax receipts rose 9% in August 2017 compared to August 2016, and was up 6.1% over July ’17 to August ’17 in sales tax receipts, $42,598,007 in August ’17, to $40,112,175 in July ’17.

As the August sales tax report, released September 19, the county has collected $335,973,435 in sales tax dollars in the first 7 months of the County fiscal year compared to $327,528,593 the first 7 months of 2016. This has put the county ahead in sales tax collections by $8,444,842, a 2.6% increase pace.

WPCNR observes that the $8.4 Million is halfway toward covering the $15 Million deficit the county planned to cover by leasing Westchester County Airport to a private operator, perhaps eliminating the need to lease the airport altogether, if the money keeps on coming in at the present pace

 

 

 

 

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