March 13, 2009                                           

Weitzman says latest sales tax check continues to free fall

Nassau County Comptroller Howard Weitzman said today that the County’s latest sales tax distribution check for $10,505,270 for the time period covering January 1 - January 31, 2009 was down 18.6 % from last year’s check from the same time period, which translates into almost $2.4 million less in revenue in the County’s coffers. Since the start of 2009, the sales tax free fall has translated into an $8.9 million decrease, or 8.1% year to date.

"We will continue to have a watchful eye on our sales tax distribution checks throughout the year,” Weitzman said. “Sales tax projections are just guesstimates at this stage and no one has a crystal ball to predict whether consumer confidence and spending will experience an upswing.”

From November 2008 to March 12, 2009, sales tax has declined 7.8%, or $32.6 million, compared to the same period last year.

"Relief from the federal economic stimulus package and the much-discussed deficit-closing measures of the administration can’t come fast enough,” Weitzman added.

Sales tax accounts for approximately 40% of the County’s budget.

See table below