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SARATOGA SPRINGS — Saratoga Springs led the state in year-over-year growth of sales tax collection, according to a statement issued on March 3 by city Commissioner of Finance Minita Sanghvi.
The city’s increase - a 14.6% increase in 2022, totaling $16,954,841.43 - mirrors New York State’s overall sales tax collection, which totaled $22.1 billion in calendar year 2022, up 12.7%, or $2.5 billion, from 2021, according to a report released by State Comptroller Thomas P. DiNapoli.
In 2021, of the cities that impose their own sales tax, Saratoga Springs had the strongest year-over-year increase, at 32.5%.
Saratoga Springs also collected $743,149 in occupancy tax, a 27% increase from 2021 and the city’s highest-ever, exceeding pre-pandemic levels by 12%, Sanghvi said.
The 2022 revenues exceed those of 2019, the year of the city’s second highest occupancy tax revenue, by $80,186.
“This is the second year we’ve seen record breaking tax revenues for our city,” Sanghvi said, in a statement. “This is very good momentum for our city and reflects all the work our administration is doing to attract visitors and make our city a popular tourist destination.”
“These figures tell the story of the resilience of our community. Saratoga Springs continues to attract people because of the public and private investment in making the city a great place to live, work and play,” city Mayor Ron Kim said, in a statement.
