NYC Mayor Bill de Blasio was unable to reverse an effort by Cuomo to claw back more than $ 600 million in
city sales tax receipts that state officials argued rightfully belonged to the state.
Not exact matches
«Given the unique structure of the bonds, the State will realize the savings it is due over the next three state fiscal years through the adjustment of
sales tax receipts otherwise payable to New York
City,» reads the language in the governor's budget proposal unveiled last week.
Auerbach also expressed concern about the renewal of a «timeliness clause» in the proposed agreement which requires the county to turn over respective shares of
sales -
tax receipts to the
city and towns within a week to ten days of
receipt from the state.
On the upside, he predicts the county's willingness to absorb Kingston's mass - transit system could be a benefit to the
city «if
sales -
tax receipts decline.»
The
city estimated only modest increases in
tax revenue, because of lower revenue from income
taxes and real estate
sales taxes, offset by a rise in property
tax receipts.
The statement reads: «Following 2017, the county will begin receiving
sales tax growth from the
City of Kingston's portion of
sales tax receipts to help offset critical county expenses.
Auerbach also expressed concern about the renewal of a «timeliness clause» in the proposed agreement which requires the county to turn over respective shares of
sales tax receipts to the
city and towns within a week to 10 days of
receipt from the state.
«no
city, town, county, township or other subdivision or municipal corporation of the state may levy or collect any excise
tax upon or measured by the
sale,
receipt, distribution, or use of fuel.»