by railtrailbiker
A measure that would provide tax relief to Orange County municipalities and school districts hurt by the tax exempt status of the Port Jervis Railroad line is on its way to the governor's desk. The Assembly and Senate have approved the measure that would provide $807,500 in local transitional aid to be paid over a 10 year period.
Metro-North Railroad has entered into a long-term sublease with Norfolk Southern Railroad for the rights to the Port Jervis line, partially located in Orange County. As a public authority, Metro-North is not subject to tax exemption, resulting in a loss of over $1 million a yare in property tax revenue for local school districts and municipalities.
Over the next 10 years, the measure would provide over $342,000 to the Port Jervis City School District, more than $249,000 for the Enlarged Middletown City School District, $155,000 to the Minisink Valley Central School District, over $0,000 to the Town of Deerpark and almost $20,000 to the City of Port Jervis.
"Our families struggle to cope with a tremendous property tax burden and cannot afford to shoulder another increase," said Assemblywoman Aileen Gunther of Forestburgh, who sponsored the measure in that house. The measure "will deliver the aid needed to help local towns and schools fill this budget hole and keep property taxes from soaring."
http://www.midhudsonnews.com/News/railt ... 9Jul04.htm
Metro-North Railroad has entered into a long-term sublease with Norfolk Southern Railroad for the rights to the Port Jervis line, partially located in Orange County. As a public authority, Metro-North is not subject to tax exemption, resulting in a loss of over $1 million a yare in property tax revenue for local school districts and municipalities.
Over the next 10 years, the measure would provide over $342,000 to the Port Jervis City School District, more than $249,000 for the Enlarged Middletown City School District, $155,000 to the Minisink Valley Central School District, over $0,000 to the Town of Deerpark and almost $20,000 to the City of Port Jervis.
"Our families struggle to cope with a tremendous property tax burden and cannot afford to shoulder another increase," said Assemblywoman Aileen Gunther of Forestburgh, who sponsored the measure in that house. The measure "will deliver the aid needed to help local towns and schools fill this budget hole and keep property taxes from soaring."
http://www.midhudsonnews.com/News/railt ... 9Jul04.htm
