Capital Region sales tax revenue has rebounded well above pre-pandemic levels

PHOTOGRAPHER:

ALBANY — Local government sales tax collections for the first eight months of 2021 exceed the same period in 2020 during the worst of the pandemic but also the pre-pandemic era in 2019, the state Comptroller’s Office reported Wednesday.

Spending was reduced in some counties in the spring of 2020 compared with the same period of 2019, as fewer people ventured out to spend money and those who did stayed closer to home. This resulted in places such as Montgomery County seeing greater sales tax revenue in 2020 than 2019, because its residents weren’t commuting as much, and were making purchases locally rather than in the counties where they work.

In the Capital Region, sales tax revenue in the first eight months of 2021 was up 24.2% from the same period of 2020 and 14.4% over 2019. 

In the Mohawk Valley region, the 2021 total was 26.3% higher than 2020 and 20.4% higher than 2019.

Here are select local sales tax collections in millions of dollars for the first eight months of 2019, 2020 and 2021:

  • Albany County $183.5 $163.8 $199.3
  • Fulton County $14.0 $13.8 $17.2
  • Gloversville $2.5 $2.4 $2.9
  • Johnstown $2.6 $2.6 $2.9
  • Montgomery County $20.6 $20.8 $26.1 
  • Rensselaer County $60.7 $57.1 $70.1
  • Saratoga County $82.7 $78.2 $97.6
  • Saratoga Springs $8.6 $7.4 $9.0
  • Schenectady County $66.8 $61.2 $78.0
  • Schoharie County $10.1 $9.9 $12.5

“New York’s local governments continue to see much stronger collections in 2021 compared to last year when the pandemic kept people home,” Comptroller Thomas DiNapoli said in a news release. “However, it remains uncertain how recent increases in statewide infection rates will impact the economy. Local governments must continue to monitor changing economic conditions and maintain vigilance when it comes to their finances.”

Categories: Business, News

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