County’s sales tax revenue rose by more than $15 million in 2017
Towns and villages to share $3.8 million sales tax surplus
GOSHEN — Moody’s Investors Service has recognized Orange County for sharing $3.8 million in sales tax surplus received for fiscal year 2017 to its municipalities.
“Tourism and economic development are creating jobs and growing the economy,” Orange County Executive Steven M. Neuhaus said in a press release announcing the surplus sales tax. “More local spending generates more sales tax which helps our local governments.
"Local officials can use these funds to reduce property taxes, encourage further economic vitality and fund government services which might otherwise be negatively impacted," the county executive added.
According to the State Department of Taxation, Orange County’s sales tax revenue rose by more than $15 million in 2017, an increase of more than five percent from 2016. It was the largest gain among mid-Hudson counties.
Orange County budgeted $265.4 million in sales tax for 2017, but generated $280.5 million. The county shares that revenue with 41 towns, villages and cities.
According to figures suppled by the Orange County Executive's office:
The Town of Monroe will receive an additional $79,454.44;
The Village of Harriman will receive an additional $20,028.87;
The Village of Kiryas Joel will receive an additional $166,700.66;
The Village of Monroe will receive an additional $69,109.50;
The Town of Tuxedo will receive an additional $24,796.46;
The Village of Tuxedo Park will receive an additional $5,147.69; and
The Town of Woodbury will receive an additional $88,295.57.
“This is great progress, but there is more work to be done,” Neuhaus said. “We must continue to make economic development and tourism priorities and I hope our local governments use this unplanned funding to meet essential needs and encourage further economic growth.”