Schenectady County to Distribute $3.6 million in 2015 Sales Tax Revenue through the Schenectady County Metroplex Development Authority Enabling Legislation
For Immediate Release: Contact: Joe McQueen
March 14, 2016 (518) 388-4772
Schenectady County to Distribute $3.6 million in 2015 Sales Tax Revenue through the
Schenectady County Metroplex Development Authority Enabling Legislation
(Schenectady County, NY) Towns and Villages in Schenectady County will receive $3.6 million in 2016 from the distribution of sales tax authorized in the Schenectady County Metroplex Development Authority enabling legislation.
“We are pleased that our local municipal partners are realizing increased revenue as a result of our efforts to continue to grow the Schenectady County economy,” said Anthony Jasenski, Chair of the Schenectady County Legislature. “This direct financial support is the largest amount distributed since 1999 and will provide important tax relief to our taxpayers.”
One half of one percent of the County sales tax is set aside for economic development purposes. Thirty percent of this amount is provided directly to the Towns and Villages in the County. The remaining seventy percent is provided to the County’s Metroplex Development Authority and is used to help finance economic development projects that attract new investment and new jobs to the County which in turn generate additional sales and property tax.
The results from 2015 with total funding received since 1999 follows:
Delanson $15,503 in 2015, total $231,548
Duanesburg $233,630 in 2015, total $3,355,898
Glenville $885,126 in 2015, total $12,737,500
Niskayuna $886,568 in 2015, total $12,610,968
Princetown $86,169 in 2015, total $1,294,226
Rotterdam $1,184,013 in 2015, total $17,463.271
Scotia $314,391 in 2015, total $4,777,788
Local governments in Schenectady County have received a total of nearly $52.5 million in sales tax dollars since 1999 when the Metroplex legislation was enacted.