Written by George Maragos Thursday, 03 April 2014 00:00
Sales tax revenue is the County’s biggest source of income, accounting for over 40 percent of total annual revenues. Therefore, it is gratifying that the final sales tax figures for 2013 show an increase of 6.3 percent to $1.13 billion over the prior year. This was on top of another healthy increase of 4.2 percent in 2012.
Yet, some worrisome signs appeared towards the end of 2013. The sales tax revenue during the holiday shopping season declined 12.4 percent compared to a year before. One reason for the drop in sales tax receipts towards year-end may have been a shift in consumer shopping habits from brick-and-mortar stores to online, which reduced the amount of sales tax revenue. Another factor for the drop-off in holiday sales tax receipts may also be due in part to flat income growth for consumers; income grew only .25 percent in November and not at all in December.
At first glance, a mix of flat income growth and shift to online commerce looked troubling. However, a recent federal court decision requiring online vendors collect and submit sales tax has boosted revenues, up about 9.7 percent in January-February, based on sales that were not taxed before 2014. This trend is anticipated to provide higher sales tax revenues in 2014 than the two-percent growth projected in the budget.
The bad news is that the accelerating shift to online sales will mean potentially lower sales for brick-and-mortar stores and less local retail jobs. Additionally, the absence of income growth will further dampen sales and jobs.
Wednesday, 23 July 2014 00:00
These days Long Island residents are trying to save a buck whenever and wherever they can, especially when it comes to property taxes. To try and lend a helping hand, Republican Sen. Kemp Hannon and Nassau County Executive Ed Mangano recently teamed up for a property tax exemption workshop at the Farmingdale Public Library.
Communications Director Randolph Yunker with the Nassau County Department of Assessment explained that the workshops, which are held throughout the year in various communities, are a collaborative effort to bring the Nassau County Department of Assessments operations from Mineola to different communities, such as Farmingdale. He added that applications were on-hand in case any attendees were first-timers or pursuing a renewal of an existing exemption.
Friday, 11 July 2014 08:29
If you stopped by the Farmingdale Public Library this past week, perhaps you noticed all of the paintings and art pieces currently on display. For the entire month of July, the library will feature the many styles of artist/poet Ruth Lawrence.
“I’ve been exhibiting for quite a few years,” said Lawrence, “I am always happy to show my work.”
Lawrence, 87, of East Meadow, said she first began painting at just 12 years old. She recalls, at the time her sister had been dating someone who worked at an art supply store, and had gotten her some oil-based paints as a present.
Thursday, 17 July 2014 00:00
Throughout the summer, the Farmingdale Observer will feature the box scores from the Farmingdale Baseball League Inc.’s 9/11 Baseball Tournament.
Farmingdale Greendogs 7 - Seaford Vikings 6 (8U)
Syosset Cubs 18 - Plainview Hawks 1 (12U)
Thursday, 17 July 2014 00:00
Runners and walkers from Farmingdale and all over Long Island and beyond are invited to join in the fun on one of the most unusual 5 Kilometer courses on Long Island at the Saturday, August 9th Lynn, Gartner, Dunne & Covello Sands Point Sprint.
The Run presents the Long Island running community with an opportunity to traverse a unique combination of paved paths and runner-friendly woodland trails at the Sands Point Preserve.
The leading Nassau County law firm of Lynn, Gartner, Dunne & Covello has signed on to be the new lead sponsor of the event, with partner John Dunne and his wife planning on running the 5K distance. The Lynbrook Runner’s Stop will be back as the presenting sponsor.