PUTNAM POSTING: Putnam County Shares Taxes

PUTNAM POSTING: Putnam County Shares Taxes
Jennifer Maher

Putnam County Executive MaryEllen Odell recently advocated for the adoption of a new sales-tax sharing model. For years, villages and towns have asked Putnam County to share their revenue from taxes on goods sold within our borders.

The county will only share tax revenue for years in which Putnam County’s sales-tax revenue increases over the previous year. The amount going to towns and villages would be divided up on a per-capita basis.

According to data given to the County Legislature’s Audit Committee on Feb. 22, in most years from 2010 through 2021 Putnam’s sales tax income exceeded that of the year before. In 2021, Putnam collected $78 million, compared to $66.7 million in 2020 and $66 million in 2019.

To start the sharing, the county executive proposes to put $5 million in a municipal sales-tax allotment with $5 million from the county’s $19 million in federal COVID-related American Rescue Plan Act (ARPA) money, creating a pool of $10 million.

This is something towns and villages have been requesting for a long time but it was always turned down by the county due to the fact that the county has taken responsibility for the properties that are behind in property taxes, making towns whole as well as other services provided by the county to towns.

This plan is progress towards consolidation and working together.

Great! You’ve successfully signed up.

Welcome back! You've successfully signed in.

You've successfully subscribed to Real Estate In-Depth.

Success! Check your email for magic link to sign-in.

Success! Your billing info has been updated.

Your billing was not updated.