N.Y. Sales Tax Heyday Appears to Be Waning, Comptroller Reports

New York continues to see signs that local sales tax collection growth is slowing down after a post-pandemic surge, “making careful cash flow monitoring especially important,” state Comptroller Thomas DiNapoli said Thursday.

The state drew in $1.82 billion from local government sales tax collections in July, a 3% increase compared with the same month last year. The bump is “similar to growth rates from before the pandemic,” DiNapoli reported, but “may be slower than some local officials anticipated after two years of more robust growth.”

• Earlier this month, DiNapoli reported sales tax collections were moderating ...