Montgomery County sees increase in tax revenue
$1.6M increase in sale tax revenue attributed to rising fuel prices
FONDA — Montgomery County saw a 5.9 percent sales tax increase for 2017. Following a report from the New York State Comptroller’s office, Montgomery County’s figures were the highest year-over-year percentage change among counties in the Mohawk Valley.
Montgomery County Executive Matthew Ossenfort said during the fourth quarter, the county’s sales tax revenues were up by 15 percent compared to revenues in the fourth quarter in 2016.
According to a press release, the 2016 sales tax collections were $27,806,149 and numbers increased to $29,450,192 in 2017. This means there was a $1,644,043 increase in sales tax from 2016 to 2017.
Ossenfort said the sales tax increase was much better than they had anticipated.
“This is positive news,” Ossenfort said. “Hopefully this trend will continue into 2018.”
Ossenfort said the two major contributing factors for the sales tax increase are rising fuel prices and high retail sales during the holiday season. He said Montgomery County relies on the fuel sales.
Ossenfort said this increase will not only benefit Montgomery County, but will also benefit the municipalities in the county.
“I will not be surprised though to see what’s happening to continue,” Ossenfort said. “We’re expecting to have another good year.”