Revenue $1M below projections
Putnam County collected about $1 million less sales tax than it expected during the first six months of 2024, according to its finance commissioner.
Michael Lewis told the county Legislature’s Audit Committee on July 29 that the reduction was partly due to a county sales tax exemption on clothing and footwear purchases that began March 1. Through March 1, 2026, clothing and footwear that sells for less than $110 is exempt from Putnam’s 4 percent sales tax. Putnam lost $435,000 in taxes on $11 million in eligible purchases from March 24 to May 24, said Lewis.
The amount of sales tax collected in June, however, was $200,000 more than last year, he noted. Putnam collected $88.4 million in sales tax in 2023 and budgeted for $77.5 million in 2024. Unlike most counties in the state, Putnam does not share its sales tax revenues with its municipalities.
