Chemung County Executive Tom Santulli and Southern Tier Economic Growth President Mike Krusen are pleased to announce sales tax is up 6.54 percent through the first quarter of 2018. The 6.54 percent increase represents a growth of $913,500.17 in sales tax throughout the County for the first part of 2018.
“Sales tax is our County’s greatest source of revenue. After ending 2017 with a nearly 3.5 percent sales tax increase, it is very encouraging to finish the first quarter of this year with sales tax being up 6.5%. Sales tax is our leading indicator in determining the strength of our economy. This positive sales tax trend will enable us to present a 2019 County Budget that will allow us not to increase property taxes for the 14th straight year,” said County Executive Tom Santulli.
Chemung County generated nearly $1.2 million in gross sales tax receipts so far this year. If this level continues, that could bring the County to the same level of collection it had in 2011, which represents the high water mark of sales tax collections for Chemung County.
“Our sales tax growth is a strong indicator that our efforts to work with our business community to create opportunities is paying dividends. Recent increasing job creation and this excellent sales tax report is an extremely positive sign that our local economy is strengthening,” said Southern Tier Economic Growth President Mike Krusen.