Manhattan Finance Director Bernie Hayen reminds us the May numbers generally reflect March retail sales, with most of the major retailers including big box and Mall stores, down compared to the same period a year ago. Grocery sales, however, showed an eight percent increase in sales overall across the community.
Hayen adds the first five months of last year were an all time high for city tax collections and he says the numbers are just behind that pace so far this year.
$875,956 were collected in the May numbers, with an adjusted rate of $814,253. That’s $67,421 down from last year’s adjusted rate, and $57,160 below the 2013 budget.