Manhattan Finance Director, Bernie Hayen called the February sales tax results “nothing but good news”.
$953,328 were collected in sales tax receipts, for the city of Manhattan, this month. This is up from last year’s February collections of $887,230. This is a 4.7% increase from the net change in year-to-date for 2014 over 2013. The City of Manhattan had forecasted $904,975 in taxes for the month, so collections were $48,353 above what was expected.
TIF, or tax increment finance, taxes are down from this time last year. In February of 2013, $75,870 were collected, while this month’s taxes only reached $64,188. This number is also down from last month’s $67,482 in TIF taxes.