Office of the Comptroller: Sales tax revenues increase due to inflation | Featured story
BATAVIA — Sales tax revenue has increased so far this year in the GLOW region, according to the state comptroller’s office.
The increase in income comes as residents, municipalities and businesses around the world try to cope with high levels of inflation affecting food, fuel, home heating and other aspects of daily life and Trade.
“Local sales tax collections continue to be significant,” State Comptroller Thomas D. Napoli said in the April 29 report. are. With prices rising, we are closely monitoring the impact of the rate of inflation and economic volatility on New York’s economic recovery.
The study compared the first quarter period from January to March for 2021 and 2022.
Its findings included: not Genesee County led the GLOW region’s sales tax increases with 18.1% for the first quarter. It raised $12.4 million in 2022 compared to $10.5 million in 2021.
not Wyoming County sales tax revenue rose 13.5% in the first quarter. It raised $5.5 million in 2022 compared to $4.8 million in 2021.
not Orleans County sales tax revenue increased 7.8% in the first quarter. It raised $5.5 million in 2022 compared to $4.9 million in 2021.
not Livingston County sales tax revenue increased 8% in the first quarter. It raised $9.7 million in 2022 compared to $9 million in 2021.
not Broome County saw the largest statewide increase at 24.3% for the first quarter. It raised $44.5 million in 2022 compared to $35.8 million in 2021.
not Washington County saw the lowest statewide increase, at 7.5% for the first quarter. It raised $6.4 million in 2022 compared to $6 million in 2021.
not Year-over-year increases slowed or even reversed in March for most of the GLOW region.
Genesee County sales tax revenue increased 8.5% between March 2021 and March 2022. Wyoming County was unchanged with no increase or decrease.
Livingston County’s sales tax revenue has been shown to have decreased by 8.2%, while Orleans County has decreased by 7.5%.
The Comptroller’s Office study did not explain the decreases in more detail.