KINGSTON – Sales tax collections in Ulster County are up by double digit percent over last year’s and that is due to higher consumer prices as a result of inflation and tariffs on the federal level.
County Comptroller March Gallagher said if that continues, the county could have millions in additional revenue.
“If were to clear the year out at only 10 percent ahead of last year, that’s an extra $18 million, so it’s possible that some of these increased costs are going to be absorbed by increased revenues. We don’t know,” she said.
Gallagher warns that if the economy takes a sudden downturn the county may not see those surpluses in sales tax.
She acknowledged that when inflation goes up, county sales tax revenue increases.
Comments