April 6, 2009                                                   

Weitzman says latest sales tax check shows 7.8% decline over last year

Nassau County Comptroller Howard Weitzman said today that the County’s latest partial sales tax distribution check was for $61.7 million for the time period covering February 1 –March 22, 2009, down 7.2% from last year’s check from the same time period, which translates into almost $4.8 million less in revenue in the County’s coffers. Since the start of 2009, the sales tax free fall has translated into a $13.7 million decrease, or 7.8% year to date.

"While we continue to hope for a spring turn around, the numbers are clearly not there,” Weitzman said. “We have to adjust the County’s 2009 budget to prepare for the continuation of this negative trend.”

From November 2008 to April 6, 2009, sales tax has declined 7.7%, or $37.2 million, compared to the same period last year.

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

See chart below