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Preston Joins Local Leaders to Announce County’s Plan to Return More Sales Tax to Municipalities

(JOHNSON CITY, N.Y.) — Broome County Executive Debra A. Preston joined Broome County Legislative Chairman Daniel J. Reynolds, Broome County Legislators and more than a half dozen local leaders to announce the County’s plan to give back more sales tax to the municipalities in 2017.

Local municipalities will receive an additional $1.18 million in 2017, with $373,000 of that total generated from a 15 percent boost in revenue sharing compared to last year.

“As a former Supervisor, I know sales tax is a critical revenue stream for local municipalities,” said County Executive Preston. “Sales tax revenue funds important services like public safety personnel and infrastructure improvements. This is about fairness and good government.”

Before Preston took office, Broome County changed the sales tax revenue sharing formula to give less to local municipalities. It was set to 55 percent for the County and 45 percent for local municipalities.

Upon taking office, Preston initiated a plan to restore the formula to a 50/50 split gradually over seven years.

Since Preston started returning sales tax in 2013, municipalities have received more than $2 million. After the increase in 2017, the sales tax split will be at 51.5 percent for the County and 48.5 percent for local municipalities.

“The Legislature is proud to partner with County Executive Preston in returning more Sales Tax revenue to our municipalities,” said Legislature Chairman Daniel Reynolds. “This revenue was unfairly taken away years ago and my colleagues and I in the Legislature have made it a priority to restore this funding that our towns and villages heavily rely on.”

“Debbie Preston’s plan has a direct impact on City taxpayers,” said Binghamton Mayor Richard C. David. “By making tough decisions and putting local municipalities first, County Executive Preston has provided the resources to support our police department and tear down blighted properties. These programs have a direct impact on quality of life and neighborhood integrity.” 

“There is nothing more imperative that minimizing tax rates for all constituents. The County Executive’s action assures fair distribution of revenue and significantly contributes to the provision of essential services for our Town of Union residents,” says Town of Union Supervisor Rose Sotak.

"I have been in full support of the County Executive's sales tax plan. This is great news and will help us in many ways going forward,” says Johnson City Mayor Greg Deemie.

“Promises made, promises kept," says Town of Dickinson Supervisor Mike Marinaccio.

 

 

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08/23/2016 - 2:57pm