Summer shoppers in Westchester County will be paying an extra penny on the dollar with a new sales tax increase recently approved in Albany. The hike from 7.375% to 8.375% is intended to plug a deficit in the County Budget without forcing a hike in our already burdensome property taxes.
County Executive George Latimer made the rounds recently, with the local legislative delegation in tow, informing trustees in Larchmont and Mamaroneck that the new revenues will also be shared with towns and villages.
According to Latimer, sales projections indicate Larchmont should receive a windfall of $144K for the remainder of the current fiscal year with a projected boost of $313K for 2020;
The Town of Mamaroneck will be getting a check for $295K with $641K to follow;
The Village of Mamaroneck is getting a short-term windfall of $467K with a full year projection of more than a million dollars for 2020.
All this new cash could offset the pressure on village and town portions of the onerous property tax. As Larchmont Mayor Lorraine Walsh put it, “We can fix a lot of sidewalks for that amount.” County Executive Latimer has vowed to freeze the county’s portion of the tax bill for two years. Still, that doesn’t mean your individual tax bill won’t be going up; Schools account for more than half of the property tax levy in Westchester, which has the grim distinction of having the highest property taxes in the United States.