County Remains Healthy With Sales Tax Revenue Ulster Experiencing Stronger Collections than Most of the State
KINGSTON, NY (August 11, 2016) – “Our area has enjoyed nearly a three percent growth in sales tax revenue, year over year, indicating a steady trend of vigorous business in Ulster County,” said Comptroller Elliott Auerbach as underscored in his recent report, On the Rise: Ulster County Sales Tax Revenue.
While collections state wide has lagged, Ulster County, along with the entire Mid-Hudson Valley, has proved to be the exception when comparing the first half of 2016 to the same period of last year. The report indicates that “Ulster County appears to be on pace to experience an increase in sales tax revenue from 2015,” which would put it on track to meet anticipated budget projections.
The Ulster County sales tax rate is 8% for general sales and compensation use tax. Of the total collected by the State of New York, 4 % is retained as State revenue and 4% is returned to the County. In Ulster, the county tax base rate is 3%; however, the County receives authorization to levy an additional 1%.
Currently 85.5% of the sales tax received is kept by the County while the City of Kingston receives 11.5% of the revenue with the remaining 3% split among the twenty-two municipalities based on their equalized value.
The report can be found on the Comptroller’s website at www.YourEyesOnUlster.com
