Sales Taxes Fall Short in New Rochelle

NEW ROCHELLE-Commissioner of Finance Howard Rattner says that final sales tax figures for fiscal year 2000 totaled $20,690,596 here, an increase of $1.5 million from the previous year. However, it was approximately 1.5% ($300,000) less than the city’s sales tax estimate for 2000.

“While it’s satisfying to have sales taxes so closely match our estimates, it is disappointing that we fell short due to a contracting economy,” Rattner says. “This highlights the need for a fairer state aid allocation for the city of New Rochelle.” He notes that during the fourth quarter of 2000, sales tax slowed considerably, “perhaps indicative of the overall downturn in the economy. The general sales tax picture reveals that taxable sales volume at New Rochelle’s major stores may have fallen.”