Sponsored by:
|
|
|
|
|
|
|
Published January 21, 2009 10:16 pm - An extra $1 million could be generated by Essex County from a new tax.
Essex County plans 50 percent transfer-tax hike
Real-estate transfer fee hiked, but by less than twice
By LOHR McKINSTRY
Staff Writer
ELIZABETHTOWN — Before settling on a 50-percent boost, Essex County lawmakers first considered doubling the real-estate transfer tax that people pay when they sell property.
The Essex County Board of Supervisors wants to use the money to pay for a new public-safety radio system.
The state's real-estate transfer tax generates more than $2 million a year in the county, based on $2 for every $500 of conveyance.
"If you raise that to $4, $2 goes back to us," County Manager Daniel Palmer said. "I think we could live with $1 (more). I do think it's a way to put it (the radio system) off the property tax."
Counties are allowed to levy their own real-estate transfer tax.
"This is an additional transfer tax," County Attorney Daniel Manning III said. "The other tax goes to the state."
Palmer said the new tax would be designated for capital projects.
"It's a way of paying some of that radio project as a user fee," Palmer said.
The first phase of the radio-system construction has been awarded to Motorola Inc. for $2.5 million.
County Clerk Joseph Provoncha said a new transfer tax might be acceptable if someone selling a property paid it.
"One of the things discussed was this is unfair on those buying a property. The rule of thumb is it's the seller who pays."
Supervisor Roby Politi (R-North Elba) said sellers are now trying to negotiate having the buyer pay part of the transfer tax.
"It is going to get passed on. It's going to affect buyers and sellers somewhat. I think it's going to affect someone buying a house."
Since the tax is normally paid by the seller, the buyer would have to resist changing how it's done.
"I don't think it's going to affect people whether they buy or sell property," Politi said. "The question I have is jumping to this and having the third-highest transfer tax in the state of New York."
He said a lower tax might be more reasonable.
It could also have a domino effect, Politi said, with the state deciding to increase its own transfer tax.
"We need the money," Supervisor Robert C. Dedrick (R-Ticonderoga) said. "I do think $1 would better serve us."
The county decided to establish its tax at $1 per $500, instead of the $2 originally proposed.
The tax unanimously passed the County Finance Committee Monday and will have a preliminary vote by the Board of Supervisors Ways and Means Committee next Monday.
Manning said he'll start drafting a local law to start collecting the tax in September.
E-mail Lohr McKinstry at: lmckinstry@pressrepublican.com
|
|
ADVERTISEMENT
Today's Front Page
View P-R Frontpage:
Click on the image of the Press-Republican frontpage to view our frontpage archives.
Subscribe:
Click here to receive a subscription to the Press-Republican for as little as $13.00 per month.
Frontpage Reprints:
Click here to purchase a reproduction of a full page of the Press-Republican.
|
SITE INDEX
NEWS:
Local News,
Police, Fire Courts,
Business,
Money & Markets,
Education,
Environment,
Outdoors,
Politics & Elections,
Births,
Engagements,
Weddings,
Anniversaries,
Property Transfers,
Lookback,
Weather
SPORTS:
Local Sports,
High School,
College,
Youth & Adult,
Sports Shorts,
Outdoors,
Fishing,
Flashback,
Today's Sports Events
OPINION:
Editorials,
Cheers & Jeers,
In My Opinion,
Letters,
Speakout,
Columns,
Blogs
ARTS & ENTERTAINMENT:
Out & About,
Movie Reviews,
Entertainment News,
Celebrity News,
Lotteries,
Crosswords,
Sudoku,
Horoscopes
LIFESTYLES:
People,
Home & Garden,
Health,
Seniors,
Faith & Spirituality,
Family
OBITUARIES:
Current obituaries & search past year,
Obituaries archive,
Guestbooks,
Obituary submission guidelines
PHOTOS, ETC.:
Featured galleries,
Recent newspaper photos,
Bonus Sports,
Community Events,
Full Page Reprints,
Audio Slide Shows,
Video,
Webcams
SEARCH ARCHIVES:
Past 7 Days,
2007 - Present,
1999 - 2007,
Very Old Archives (Historic Newspapers)
LIVING HERE:
Clinton Co.,
Essex Co.,
Franklin Co.,
Day Away
MARKETPLACE:
Classifieds,
Legal Ads
Find a job,
Find a car,
Buy a Classified ad,
Free Coupons, Advertiser Index
ABOUT US:
Contact us,
Advertising Information,
© 2009, CNHI |
|
|