RENSSELAER COUNTY SETS RECORD WITH SALES TAX REVENUES IN 2021, COLLECTING $110 MILLION, SHOWING GROWTH AND CONFIDENCE IN COUNTY, MCLAUGHLIN AND LEGISLATORS ANNOUNCE
RENSSELAER COUNTY SETS RECORD WITH SALES TAX REVENUES IN 2021, COLLECTING $110 MILLION, SHOWING GROWTH AND CONFIDENCE IN COUNTY, MCLAUGHLIN AND LEGISLATORS ANNOUNCE
Rensselaer County set a record for 2021, reaching the $100 million mark for sales tax revenues and ending the fiscal year with substantially more than budgeted, County Executive Steve McLaughlin and members of the County Legislature announced today.
The county received over $110 million in sales tax revenues, a sign the county is growing and moving in the right direction, McLaughlin and county leaders said. Final payments for sales tax revenues last year were received in recent days.
“More and more are coming to Rensselaer County to shop, dine or make significant purchases. We are also seeing more of our residents shop close to home and keep their dollars here,” said McLaughlin.
“These revenues are shared with cities, towns and villages and this is great news for our taxpayers and partners in local government. These added dollars will be put to use close to home in keeping taxes down and services strong,” added McLaughlin.
The county’s previous high for sales tax revenues was for 2020, when the county took in $96 million. The county led the state in sales tax growth during 2019.
The county has seen strong fiscal performance in recent years. Four consecutive county property tax reductions, including a 10 percent reduction for 2022, have lowered county taxes by almost 19 percent. The county has added to the surplus, and earned positive bond ratings, including a report by S&P Global that shows the county maintaining an excellent AA rating despite the pandemic.
The county also earned an excellent fiscal score ranking from the state Comptroller and was one of only three counties in the state to see an increase in GDP.
“Retail growth in our towns and cities, and a desire to shop locally will have positive results for all of the Rensselaer County communities that share in the sales tax revenues”, said Chairwoman Kelly Hoffman- North Greenbush.
“This is more great news for our County. Working together, we have fostered a climate for positive growth and we are seeing the benefits of those efforts”, said Vice Chair Bob Loveridge- East Schodack.