July sales in Manhattan exceeded expectations.
“The numbers are good,” said Bernie Hayen, city director of finance. “Nearly every retail segment that we examine each month was up compared to a year ago.”
Sales tax collected in July was $827,037 compared to $736,335 for July 2012. That represents a $90,702 increase from last year.
Although sales were up, total revenues are still $165,915 less than expected.
However, revenues for the year have finally exceeded budgeted figures by $49,466.
Sales taxes collected also are 7.9 percent down from than last year, but after adjusting for Tax Increment Financing (TIF) bond payments on the downtown redevelopment, adjusted figures are up by .1 percent.
City sales taxes collected for the year are $7,759,968, which is .5 percent less than last year to date.
September sales tax figures reflect July sales because the taxes collected are sent to the state before being returned to the city for.
Hayen said that delay is about six to eight weeks.