Suffolk County Executive Steve Levy Plans Prompt Disbursement of Mortgage Taxes to Towns and Villages
Will File Emergency Resolution Today to Make Payments
Hauppauge , NY - December 15, 2009 - (RealEstateRama) — Suffolk County Executive Steve Levy today will file a resolution via Certificate of Necessity seeking immediate passage of a measure to provide Suffolk’s towns and villages with more than $26 million of mortgage tax revenues.
Levy said the resolution, which covers mortgage tax proceeds through September 30, will help towns and villages with cash flow in the very early part of 2010.
“We know how difficult it is for municipalities to meet their cash flow obligations in this economy,” said Levy. “Expediting the transfer of these funds will surely be a tremendous help to towns and villages.”
The resolution will be eligible to be voted on by the County Legislature at its meeting today, and would require 12 votes for passage with the Certificate of Necessity. Without the certificate, the measure would not be eligible for a vote by the legislature until early February.
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