February 8, 2012 – Towns and Villages in Schenectady County received $3.3 million in payments from the County in 2011 as the local share of Metroplex sales tax revenues. Local governments have received $38.48 million in sales tax dollars from the County since the Schenectady County Metroplex Development Authority was founded in 1999.
Judy Dagostino, Chair of the Schenectady County Legislature said, “Schenectady County is pleased to provide this funding to Towns and Villages which represents the local share of Metroplex sales tax revenue. This funding is used by local governments to defray the tax burden on homeowners.”
Metroplex receives ½ of one percent of the County sales tax. Thirty percent (30%) of this amount is reserved for Towns and Villages and is sent directly to them by the County. The remaining 70% stays with Metroplex and is used to help finance economic development projects that in turn create additional sales and property tax.
The $3.3 million represents the most revenue ever received by local governments since the Metroplex payments started in 1999. The local share is based on population.
Sales tax revenues in the County increased 7.89% in Schenectady County in 2011. Schenectady ranked 14th among upstate counties in percentage increase in sales tax revenues.
Ray Gillen, Metroplex Chair said, “We are pleased that increasing sales tax revenues help our local government partners realize additional revenues as a result of the Metroplex funding that is sent each year directly to Towns and Villages in Schenectady County.”
The results for 2011 with total funding received since 1999 follows:
Rotterdam — $1.08 million in 2011, total $12.9 million
Princetown — $79,205 in 2011, total $959,852
Niskayuna — $814,918 in 2011, total $9.17 million
Scotia — $288,983 in 2011, total $3.56 million
Glenville — $813,592 in 2011, total $9.3 million
Delanson — $14,250 in 2011, total $171,389
Duanesburg — $214,749 in 2011, total $2.45 million