State budget recap
Gas tax holiday, drinks-to-go, volunteer fire department aid in state’s $220 billion budget
Drivers in New York will enjoy at least a partial break from the state’s gasoline tax beginning June 1.
The state’s new budget knocks 16 cents off the price of a gallon of unleaded or diesel gasoline between June 1 and December 31. It’s part of a $220 billion budget New York’s state Legislature approved April 7 and 8.
Governor Kathy Hochul urged county governments across the state to follow suit and suspend local sales taxes on gasoline over the same period. Counties currently are allowed to cap their local sales tax at 8 cents or 12 cents per gallon, the budget provides a new option to cap the tax at 16 cents, as well.
Otsego County’s sales tax rate on gasoline currently stands at four percent per gallon, accounting for some 8 – 10 percent of the county’s total sales tax revenue according to the New York State Association of Counties.