Weitzman says brakes may be on sales tax decline

Nassau County Comptroller Howard Weitzman said today that the latest partial sales tax distribution check showed a slight reversing of the downward trend in sales tax revenues compared to June’s $11.5 million check. The latest $61 million receipt for July and August is down 7.2% from last year’s check for the same time period, but not quite as dismal as June’s dip of 11.5%. This latest check included an additional $2.1 million from the residential energy tax.

“It seems that the brakes have been put on the sales tax decline, but it’s still too soon to say if we are witnessing an upward trend yet,” Weitzman said. “The next quarterly sales tax check in October will tell us more about where the trend is headed and whether or not we have truly turned a corner on the recession.”

Since November 2008, the sales tax free fall has translated into $88.8 million less in County coffers than the same time period the year before. Total cash collections since January 1, 2009 are down statewide by 7%. Nassau County is down 7.23 %, Suffolk by 9.95 % and Westchester by 9.9 %. Sales tax accounts for approximately 40% of the County’s budget.

September 4 sales tax