New York Sales Tax Haul Rises, But Slows to Pre-Pandemic Pace

Signs continue to show New Yorkers’ spending habits are cooling after a post-pandemic spending surge, a warning for localities to adjust their budgets to match new consumer sentiment, state Comptroller Thomas DiNapoli said Monday.

New York City’s sales tax collections totaled $760 million in August, a modest 1.2% bump from the same month last year, DiNapoli said in a new report. Last month, he reported that the Big Apple had officially broken its eight-quarter hot streak of double-digit growth in sales tax collections—bringing in $2.5 billion in sales tax receipts between April and June, a 3.7% increase. The next quarterly ...