Nassau Comptroller Maragos: First Half 2017 Sales Tax Revenue Up Strong 2.6% Over 2016
Local News, Business & Finance, Politics
By Long Island News & PR
Published: July 13 2017
"Sales tax revenues continue to exceed overall economic growth apparently stemming from high consumer confidence," Maragos said.
Mineola, NY - July 13, 2017 - Nassau County Comptroller George Maragos reported that the County’s 2017 sales tax revenues grew a robust 2.6% in the first half surpassing the 2017 budgeted sales tax growth of 1.06%.
“Sales tax revenues continue to exceed overall economic growth apparently stemming from high consumer confidence”, said Comptroller George Maragos. “The shift to online sales is not eroding the sales tax base as rapidly as it had been anticipated.”
Sales tax is the County’s largest source of revenue, accounting for approximately 40% of budgeted revenues.