February 22, 2011 – Towns and Villages in Schenectady County received $3.026 million in payments from the County in 2010 as the local share of Metroplex sales tax revenues. Local governments have received $35.17 million in direct sales tax dollars since the Schenectady County Metroplex Development Authority was founded in 1999.
Susan E. Savage, Chair of the Schenectady County Legislature said, “Schenectady County is pleased to provide this funding to towns and villages which represents their share of the Metroplex sales tax revenue.”
Metroplex receives ½ of one percent of the County sales tax. Thirty percent (30%) of this amount is reserved for towns/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.
In 2010, towns and villages received their fifth highest payments in the twelve year history of the program. The local share is based on population.
Despite the continued national recession, sales tax revenues increased 2.65% in Schenectady County in 2010 with the fourth quarter showing an increase of over 7.4%.
The results for 2010 with total funding received since 1999:
- Rotterdam — $1.01 million in 2010, total $11.8 million
- Princetown — $76,268 in 2010, total $880,647
- Niskayuna — $724,845 in 2010, total $8.36 million
- Scotia — $284,188 in 2010, total $3.27 million
- Glenville — $722,424 in 2010, total $8.49 million
- Delanson — $13,619 in 2010, total $157,139
- Duanesburg — $193,695 in 2010, total $2.23 million