Another major federal development affecting real estate professionals was the postponement of FinCEN’s Residential Real Estate Reporting Rule. Originally scheduled to take effect in 2025, the rule was delayed until March 1, 2026.
In connection with Wishnie’s retirement, County Executive Jenkins announced that current Director of Operations Joan McDonald has been promoted to Deputy County Executive.
Putnam County Executive Byrne Signs 2026 County Budget
For the first time, the budget also provides for the sharing of a modest portion of sales-tax revenues, estimated to total about $2.3 million in 2026, with all Putnam County towns and villages.
The 2026 Putnam County budget, signed by County Executive Kevin Byrne, includes a large property tax cut, sales-tax revenue sharing, and an extension on tax-free purchases.
CARMEL, NY – Putnam County Executive Kevin Byrne signed the 2026 Putnam County Budget into law on Nov. 7, resulting in significant savings for taxpayers over the first three years of Byrne’s tenure in office. The 2026 budget includes a $1-million cut to Putnam County’s property-tax levy, delivering the largest property tax cut in county history.
The $229-million spending plan accounts for approximately $7 million in new spending passed by the Putnam County Legislature. It also extends other Byrne-led initiatives such as extending targeted sales tax cuts through a one-year extension of tax-free purchases on clothing and shoes under $110, both online and in-store.
For the first time, the budget also provides for the sharing of a modest portion of sales-tax revenues, estimated to total about $2.3 million in 2026, with all Putnam County towns and villages. Municipalities can use the additional revenue to fund infrastructure improvements, county officials stated. This is Byrne’s third county budget that provides tax relief, totaling over $10 million in total savings to taxpayers over three years (three years of targeted sales tax cuts totaling more than $7.5 million and three years of cuts to the tax levy totaling approximately $2.5 million from FY24-FY26).
Other highlights of the FY2026 budget’s affordability agenda include:
$2.5 million in anticipated benefit from tax-free purchases on all clothing and shoes under $110, both online and at brick-and-mortar outlets
Driving the property-tax rate down to the pre-recession level of 2.39%, the lowest rate in nearly 20 years
Cutting long-term debt by 58% by limiting new borrowing, reducing future reliance on taxes.
“This bold plan delivers millions of dollars in tax relief to Putnam County residents, makes critical investments in the health and safety of our families, and increases transparency and accountability so that taxpayers can check our work,” said Putnam County Executive Byrne. “Our affordability agenda for Putnam County delivers real relief where it matters. Since taking office, our administration has found new and creative ways to improve services, enhance efficiency, and save local taxpayers more than $10 million. That’s real money in the pockets of our residents and a commitment I’m proud to continue through 2026.”
In connection with Wishnie’s retirement, County Executive Jenkins announced that current Director of Operations Joan McDonald has been promoted to Deputy County Executive.
Gov. Hochul will propose to amend the State Environmental Quality Review Act (SEQRA) to exempt certain types of housing projects that have no significant impacts on the environment…
“Governor Kathy Hochul’s 2026 State of the State address brought a refreshing dose of clarity, urgency, and opportunity to New York’s real estate landscape..."
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