ALBANY (June 14, 2016) – The Albany County Legislature will distribute $3.35 million in mortgage tax revenues to 19 municipalities in the county.
In a vote taken Monday, the legislature approved allocating mortgage taxes collected from Oct. 1, 2015, through March 31, 2016.
Chairman Sean Ward (D-Green Island) introduced the biannual resolution authorizing the distribution of mortgage taxes to the county’s three cities, 10 towns and six villages. In this case, the county apportioned a total of $3,352,516 (for information, see Resolution 248 at the end of this document).
“We’re happy to pass along this revenue, which we know communities depend to balance budgets and pay for vital services,” Ward said. “Just two months ago, the legislature shared nearly $25 million in sales tax revenues with the communities.”
Here’s the amount each municipality will receive in the latest distribution of county mortgage taxes:
City of Albany: $556,986
City of Cohoes: $95,213
City of Watervliet: $61,503
Town of Berne: $22,532
Town of Bethlehem: $638,800
Town of Coeymans: $38,942
Town of Colonie: $1,200,829
Village of Colonie: $56,151
Village of Green Island: $4,211
Town of Guilderland: $439,478
Town of Knox: $24,250
Town of New Scotland: $109,983
Town of Rennselaerville: $11,180
Town of Westerlo: $27,019
Village of Ravena: $7,534
Village of Menands: $33,475
Village of Green Island: $1,404
Village of Altamont: $7,565
Village of Voorheesville: $15,462