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Committee approves mortgage-tax distribution; member reports 3.7% year-over-year increase
Summary
The Administrative Services Committee approved a resolution to distribute mortgage tax receipts to towns, villages and cities. A committee member noted a 3.7% increase in total distribution compared with the same six-month period last year despite earlier declines tied to rising interest rates.
The Chautauqua County Administrative Services Committee on Dec. 9 approved Proposed Resolution No. 1 to distribute mortgage tax receipts to municipalities.
A committee member highlighted the countywide totals and said the distribution had risen compared with the prior year. "Comparing this distribution to the 1 last year, the same period, this has increased by 3.7% increase in total," the committee member said, adding that six months earlier the totals had been down and expressing concern that rising interest rates might reduce mortgage activity.
Chair members reviewed the list showing how payments will be apportioned to towns, villages and the city. No members asked for additional analysis and the committee carried the resolution by voice vote.
The vote was by voice; the motion was approved and recorded as carried. No public speakers addressed the committee during the privilege-of-the-floor period.
