Sales Tax Growth Strengthens for a Third Year: 2018 Collections Up 5.3 Percent
Hudson, NY – According to a report from the NYS Comptroller’s office, Columbia County sales tax revenue increased 8.44% from 2017 to 2018, which was the largest increase of any county in the Capital Region. The County collected over $43 million in sales tax in 2018.
Local sales tax collections in New York State were $17.5 billion in 2018, a 5.3 percent increase over the previous calendar year and the third consecutive year that growth in collections improved.
Certain economic factors may be contributing to this improvement–more than 62,000 additional New York residents were employed in 2018, total wages for the first two quarters increased by nearly 5.7 percent compared to the same period in the prior year, consumer confidence has remained high and consumer spending has been mostly steady throughout the year.
The data reflects a strengthening economy in Columbia County over the last few years and strong growth for local businesses. read the complete Sales Tax report – pdf (see page 5)
Columbia County Board of Supervisor Chairman, and Stockport Town Supervisor, Matt B. Murell, said, “I am pleased that Columbia County’s sales tax continues do very well. A variety of factors appear to contribute to the our up-tick including a robust economy that has benefited from tourism, and the sale of fuel, vehicles and other goods and services.”
“Increasing sales tax revenues reflects success in CEDC’s mission to expand the local tax base by supporting businesses and job creation, which directly impacts public spending on social services and infrastructure said F. Michael Tucker, President and CEO of Columbia County Economic Development Corporation.
Columbia Economic Development Corporation (CEDC), the leading economic development organization in Columbia County, is committed to strengthening the county’s tax base through economic development and job creation while maintaining the quality of life so desired by the people who live and work here. For more information about CEDC programs and services, visit www.columbiaedc.com or call 518.828.4718.