The Ulster County Legislature has received multiple reports from the Treasurer’s Office and Administrator’s Office detailing concerns of an impending financial crisis. Without prompt action, this crisis could result in a substantial increase in 2007 property taxes. Following the recommendation of Ulster County Legislature’s Majority Leader Jeanette Provenzano, Chairman David B. Donaldson formed a bipartisan Budget Gap Committee to address this situation. “We’re fully committed to doing everything in our power to protect the property taxpayers of Ulster County,” said Chairman Donaldson.
The recommendations of the Budget Gap Committee were as follows:
* A commitment by the County Administrator to cut an additional $1 million from 2006 funding levels in the 2007 Budget through:
* Department Consolidations
* The red lining of vacant positions
* Department Efficiencies
* A ¼ % Mortgage tax (estimated revenue $3.5 million)
* A one time expense was deemed preferable to a large compounding property tax increase.
* A 2% increase in the current Hotel/Motel Tax (estimated additional revenue $1 million)
* This tax, paid predominantly by non-Ulster County residents, was much preferred to compounding property tax increases.
