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WHITE PLAINS $60,296,529 up 7.7%
WESTCHESTER COUNTY: $1,350,680,093 BILLION PROJECTED UP 1.5%
COUNTY PACE COULD WIPE OUT DEFICIT, FUND RELIEF EFFORTS FROM CUTS
WPCNR QUILL & EYESHADE. Statistics from New York State Office of Taxation and Finance. Analysis & Comment by John F. Bailey. June 26, 2025:
The City of White Plains has set an all-time high for sales taxes in FISCAL 2024-25 : $60,296,529.
Westchester County is off to a 5 month start that if continued will generate a $1,350,680,093 windfall
The breakthrough was achieved after only 11 months of the White Plains city fiscal year after $4,672,362 was recorded in May according to the New York State Department of Taxation and Finance.
If the city concludes the year with a similar number, the city will end with $65 Million for the July through June fiscal year.
The city is up 8.2% in May in 12 months finally matching the cumulative inflation pace of the last year,7 to 8%.
The surge in city sales tax receipts indicates the city economy is getting back into a normal consuming pace with Downtown City events last summer and this spring Rock the Block events (2 more this month). The 2024-25 budget anticipated a $56 million in unrestricted sales tax receipts. The current fiscal year has already generated $60 Million and with the city on track for at least $5 million in sales taxes in June, the city is headed for a 9 million dollar surplus in sales taxes above the budgeted $56 million.
Westchester County received $72,872,498 in sales taxes in May growing 4.7% from last May reflecting the current 3.5% YEAR-TO-DATE inflation rate.
If the county continues earning $73 million a month in sales taxes the balance of 2025 fiscal year (7 months) it will earn $510,107,486 million in addition to the $840,572,607 delivering an all time record in county sales tax receipts for the county, $1,350,680,093 BILLION.
The county receives the most revenues in its current 2025 budget from sales tax receipts (39%) The county budget is $2.5 Billion. The $510,107,486 surplus projected by WPCNR , gives the county millions to face the cash emergencies the county faces.
The County budgeted $969,795,000 in sales tax receipts in the current 2025 county budget. They will make that and more plus be able to make up the $24.5 Million deficit due to over estimating the 2024 sales tax receipts.
If consumers, and house sales continue swinging up, the 24.5 million sales tax deficit carried over from 2024 the county is currently operating under will be wiped out while giving Westchester County funds flexibility to provide funding to make up anticipated cuts in aid from the state in health care.