Mineola, NY - Nassau County Comptroller George Maragos reported that the County’s first quarter sales tax receipts came in $6.0 million or 3% higher than last year’s results. The improving economy, reduced unemployment and wage gains are beginning to increase consumer confidence and spending. These are positive signs and underscore optimism for more robust economic growth and sales tax growth going forward. These early results indicate that the 4.8% increase needed to meet the budgeted amount in total annual sales tax receipts will be challenging but within reach.
“The first quarter positive sales tax revenue results are welcomed and will relieve the fiscal pressures on the County from the poor results the prior year,” Comptroller Maragos said. “More importantly, the 3% increase is a reflection on our improving local economy and the lowest unemployment rate in the region at 4.1%.”