Shortfall Expected in Broome County Sales Tax Revenue
5/28/2014 (Updated 9:54:47 PM)With Broome County expecting a shortfall in sales tax revenue for 2014, the county's biggest municipality says it has already budgeted for an amount below what the county projected.
Town of Union Supervisor Rose Sotak says the county projected Union would get $6 million in sales tax revenue this year.
But because of employment rates and the economic climate Union budgeted receiving just $5.6 million in sales tax revenue.
"In 2013 we received $5.7 million. In 2012 we received $5.5 million. We felt that that dollar amount with the economy was going to be closer to approximately $5.6 (million), and that's what we put in the budget," said Rose Sotak, Town of Union Supervisor (R).
County officials will address the potential shorfall at a press conference Thursday.
The Press and Sun Bulletin first reported Broome County could face a shortfall of up to $15 million in sales tax revenue in 2014.
blog comments powered by Disqus