Cheap gas prices are making consumers happy at the pump, but not everyone is benefiting from the lower prices. New York’s counties, who impose a sales tax on gasoline, have lost over $200 million in revenues.
The state of New York also charges a gasoline tax, but it’s a uniform rate of 8 cents per gallon. Counties charge a 4 percent sales tax on the price of gas.
Stephen Aquario, with the New York State Association of Counties, said they see less revenue when the price plunges from $4 a gallon to $2 a gallon, which is the average rate right now.