July 9, 2009                                                  

Weitzman on sales tax: ‘It’s the same bad news.’

Sales tax numbers still showing no increase in consumer spending

Nassau County Comptroller Howard Weitzman said today that the County’s latest sales tax check, in the amount of $27.3 million, which ends the second quarter, is $2.8 million or 9.3% below last year’s check of $30.1 million. The County sales tax receipts are now $415.5 million, $45.4 million less than last year at this time.

Nassau County relies on sales tax for approximately 40% of the budget.

"It’s the same bad news, although not worse than last quarter,” said Comptroller Weitzman. “Sales tax reflects the impact of the recession on the County and Nassau’s residents and businesses are simply spending less.”

The $27.3 million check covered the period May 2009 and includes all New York State quarterly adjustments for the period March 1, 2009 through May 31, 2009. From November 2008 to July 10, 2009, sales tax has declined 9%, or $69 million, compared to the same period last year.

See chart below