WPCNR QUILL & EYESHADE. By John F. Bailey.  March 12, 2010: White Plains sales tax receipts continue to erode at a disastrous  cumulative pace which keeps compounding the city reservoir of red ink week by week.

The New York State Department of Taxation and Finance today reportes Sales Tax Collections for the first 8 months of the White Plains 2009-10 fiscal year are 22% behind the 2008-2009 pace, $7.1 Million off what was collected last year through eight months.

If the present 7 to 8% rate of decline does not turn up dramatically,  City Sales Tax Receipts will lag $10 Million behind last year’s actual collections and possibly $11 Million short of forecast. The $11 Million sales tax gap alone would precipitate drastic budget cuts in 2010-11, or a property tax increase of 33%.

The February Sales Tax Receipts were down 7.3% from February 2009,  according to figures released to The CitizeNetReporter by the New York State Department of Taxation and Finance.

This is the third consecutive month sales tax receipts have declined  in the White Plains city limits. It should be noted that a major snowstorm may have affected the February Presidents’ Day sales in White Plains. By contrast, Westchester County sales tax receipts the first two months of the county fiscal year is down just 3.6%.

If the present 7 to 8% rate of decline does not turn up dramatically,  City Sales Tax Receipts will lag $10 Million behind last year’s actual collections ($46.3 Million)and possibly $11 Million short of forecast ($47.3 Million).

The $11 Million sales tax gap alone could precipitate drastic budget cuts in 2010-11, or a property tax increase of 33% to make up the sales tax receipts gap.

The February Sales Tax Receipts were down 7.3% from February 2009,  according to figures released to The CitizeNetReporter by the New York State Department of Taxation and Finance.

This is the third consecutive month sales tax receipts have declined  in the White Plains city limits. It should be noted that a major snowstorm may have affected the February Presidents’ Day sales in White Plains.

By contrast, Westchester County sales tax receipts the first two months of the county fiscal year is down 3.6%, but that includes White Plains figures.