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NYC Sales Tax Goes Up Today
By
Jen Chung
Published Aug 1, 2009
Modified Aug 1, 2009
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By
Jen Chung
Published Aug 1, 2009
Modified Aug 1, 2009
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If you bought taxable items today, you may have noticed a slight change with the sales tax: The city sales tax is now 8.875%, up from 8.375%. It's a move proposed by Mayor Bloomberg back in January, due to the poor economy. It's hoped that the 0.5% will raise $900 million in city revenue. This translates to an extra 50 cents for every $100 spent, and the Daily News reports, "While it's pennies with each purchase, it adds up: A family earning $75,000 a year would pay an estimated $170 more in sales tax over the course of a year, the Independent Budget Office says." Flashback: In 2007, Bloomberg asked the state to keep sales tax at 8.375%.
Tagged
economy
sales tax
sales tax increase
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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