Final 2020 sales tax receipts fell short of budgeted revenues by over $1 million, but did represent a small year-over-year increase from 2019 to 2020
The numbers reaffirm the County’s ability to respond to the economic impacts of the COVID-19 crisis and the positive impact of federal stimulus support
KINGSTON, N.Y. – County Executive Ryan today announced Ulster County’s 2020 Sales Tax numbers. In 2020, the total sales tax revenue was $127,305,759, down $1,255,664 from the 2020 adopted budget projections, which were formulated prior to the pandemic. Through September 2020, the County’s sales tax numbers were down 7.80% or $5.8 million. However, the County regained ground, from October 2020 through February 2021, with an increase of 11.37% or $5.9 million. Despite strong economic headwinds, the County’s strong sales tax revenue resurgence demonstrates the results of the stimulus payments from the Federal government in addition to the economic measures taken by the County in response to the pandemic. The overall 2020 sales tax numbers represent an increase of $10,175 from 2019.
“After one of the most difficult years in decades, I am proud that this year’s sales tax numbers reaffirm Ulster County’s strong financial footing and highlight our effective economic recovery and support efforts. This is very encouraging news for our local businesses, and for every taxpayer in the county,” Ulster County Executive Pat Ryan said. “Despite the challenges posed by the pandemic, we remain committed to delivering high-quality services for our residents and equitably growing our economy, while also ensuring the highest level of fiscal responsibility.”
Last fall, County Executive Ryan unveiled his 2021 Executive Budget. At approximately $333.8 million, the 2021 Executive Budget includes a 0% increase in the tax levy and no layoffs to county employees.