New Paltz Mortgage Tax Revenue Decreases
Tax revenue distributed to municipalities through a county mortgage tax has decreased in both the Village of New Paltz and the Town of New Paltz and the surrounding municipalities. The decrease in revenue as a result of the tax signals that the New Paltz real estate market is weakening. The Town of Lloyd saw one of the largest decreases in mortgage tax revenue with a 52.46% decrease. Here is the revenue data of area municipalities (for April 2008-September 2008):
- Town of New Paltz at $123,190.06 for a 24.88 percent decrease of $40,800.07.
- Village of New Paltz at $39,923.75 for a 23.36 percent decrease of $12,169.93.
- Gardiner at $140,330.74 for a 17.77 percent decrease of $30,324.34.
- Lloyd at $145,274.47 for a 52.46 percent decrease of $160,289.91.
- Rosendale at $73,946.51 for a 22.72 percent decrease of $21,743.59.
- Esopus at $104,631.47 for a 28.37 percent decrease of $41,443.46
- Marlborough at $117,962.23 for 31.64 percent decrease of $54,609.46.
- Plattekill at $108,825.62 for a 49.32 percent decrease of $105,886.09.
- Rochester at $133,961.18 for a 31.82 percent decrease of $62,530.01
- Marbletown at $132,736.90 for a 15.05 percent decrease of $23,516.52.
- Ellenville at $20,847.38 for a 21.10 percent decrease of $5,575.07.
-Posted 1/2/09