New York Sees Slowest Local Sales Tax Growth Since Pandemic

Local sales tax collections across New York rose 1.6% to $23.4 billion between 2023 and 2024, the slowest growth rate the state has seen since the Covid-19 pandemic, state Comptroller Thomas DiNapoli reported.

The annual growth was less than half the 3.8% average rate of the 2011-19 pre-pandemic years.

The latest data, “combined with economic risks and potential changes at the federal level, calls for careful budgeting on the part of local officials to effectively navigate these uncertain times,” DiNapoli said.

In New York City, however, sales tax growth rate of 2.8% in 2024 outpaced the rest of the ...