July sales tax collections down across Capital Region

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Categories: Business, News

ALBANY — Sales tax revenue collected by Capital Region counties continues to be lower this summer than in 2019, though the year-over-year reduction is nowhere near as severe as was seen this spring.

The state Comptroller’s Office this week released revenue figures for July. Statewide, it said, July 2020 sales tax collections were down 8.2% from July 2019. This compares with drops of 25.4% in June, 32.3% in May and 24.4% in April.

Consumer spending was curtailed sharply from mid-March to mid-June, as the state ordered many retailers to shut down to slow the spread of the COVID-19 virus.

Sales tax collections were down only 3.7% statewide in March, and were actually significantly higher in January and February 2020 than in the same months of 2019.

Year to date, local sales tax revenue is down $1.15 billion across New York state, state Comptroller Tom DiNapoli. He said this punches a significant hole in local budgets and he urged the federal government to provide financial assistance to local governments.

Here is the percentage change year-over-year in sales tax revenue for counties in the greater Capital Region for January-July 2020 (left) and for July 2020 alone (right):

  • Albany -10.8% -9.7%
  • Fulton -0.8% -5.3%
  • Montgomery +1.6% -5.3%
  • Rensselaer -6.1% -5.1%
  • Saratoga -5.1% -8.9%
  • Schenectady -8.6% -11.0%
  • Schoharie -0.7% -15.7%

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