Legislature Authorizes Distribution of Mortgage Taxes

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Chairman Sean Ward and Majority Leader Frank Commisso listen to a constituent Monday at the Albany County Nursing Home.

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

 

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