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County Executive Urges NYS Leaders to Pass Sales Tax Extender

6/28/2017 12:00:58 PM

Albany County Executive Daniel P. McCoy sent a letter today to Governor Cuomo, the leadership of the New York State Legislature and Capital Region state lawmakers urging for the passage of the sales tax extender during this special session. The sales tax extender impacts 53 counties.

In the letter, McCoy states that Albany County sales tax receipts total approximately $260 million dollars per year and a lapse in the 1% sales tax would mean a reduction of $65 million dollars in revenue.

“The 1% loss would mean $65 million dollars annually to Albany County,” said McCoy. “The county formula is a 60-40 split with its municipalities. That means the county itself would lose $39 million and the share it gives to municipalities would be a $26 million dollar loss. That $39 million dollar direct loss would require Albany County to saddle taxpayers with approximately $1.60 per $1,000 property value in addition to what they already pay. Should such an increase be untenable, the County would be required to drastically cut essential services, especially for those most vulnerable. Were we forced to utilize the property tax to fill this gap, the $39 million dollars would represent a 43% increase to our current property levy.”

McCoy also said that the local sales tax extender should not be tied to any other issue but stand alone and that this issue should not be held hostage because of politics and should be passed permanently.

McCoy has called on lawmakers to pass the extender now because Albany County is already preparing its 2018 budget which is due by October 10. The current sales tax extender expires in November.

A copy of the letter is attached. 

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Sales Tax Extender Letter 062817 (3)

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Albany County ExecutiveDaniel P. McCoy