Posted on 05/02/2007 6:40:04 AM PDT by decimon
RED HOOK - By a slim margin, town voters Tuesday approved a new tax that will fund the preservation of key open spaces.
Voters approved the creation of a community preservation fund by 31 votes, 1,330-1,299.
"As supervisor, I think this is an important initiative, so I'm really glad this passed," town Supervisor Marirose Blum Bump said.
Robert McKeon, the chairman of the town's Agriculture and Open Space Committee, called the vote "an important victory over the real estate lobbyists."
In approving creation of the fund, voters authorized the town to levy a real estate transfer tax of up to 2 percent on most real estate transactions that exceed the median sale price of housing in Dutchess County. Exempted from the tax are lands that receive agricultural tax exemptions.
The tax, which McKeon said will take effect Aug. 1, will be levied only on that portion of a home sale that exceeds the county's median price. For example, if the median sale price of a house in the county is $350,000 and a home in Red Hook sells for $500,000, the tax would be levied only against that portion of the sale price exceeding $350,000, or, in this case, $150,000.
If, however, the median sale price is $350,000 and a property in Red Hook sells for $200,000, no portion of the sale price would be subject to the tax.
McKeon said the town will recalculate and adjust the median sale price annually.
Funds generated through the special tax can be used only for specific purposes, including preserving open space; establishing parks, nature preserves or recreation areas; preserving agricultural lands or properties with exceptional scenic value, wetlands or forest lands; and establishing public access to lands.
As evidenced by the large voter turnout and slim margin of victory, the proposal was not without controversy in the community.
Opponents included local developers and real estate agents who were aided in their fight against the proposal by an Albany-based Realtors political action committee.
Proponents of the plan include the town officials, and environmental groups, including Scenic Hudson. Two days before the vote, residents received taped telephone calls from Scenic Hudson President Ned Sullivan, a Red Hook resident, urging voters to support the initiative.
This is a funny way to fight "sprawl." Why not zoning laws? Connotations of exclusiveness?
I thought this likely reresentative of what's being done elsewhere and couldn't resist a name like 'Marirose Blum Bump.'
Since liberals are in favor of most forms of government spending, what would be appropriate is a tax on liberals.
Different state, thank goodness. In MA, it takes a 2/3 vote to ok a new tax.
Anything north of 84 is upstate.
reresentative = representative
Exactly how much money does it take to “preserve an open space”??
Nyah, nyah, nyah. :-)
When you're from Queens it is.
All you have.
“Exactly how much money does it take to “preserve an open space”??”
Well, the alternative is to have taxes raised with new housing — in my town every house that comes into a town has an average of 2 kids. That costs the CURRENT taxpayers approximately $14000-$16000 for schooling. The new house might pay $8000 in taxes, so the rest of the original residents get soaked. I’d rather put 1/2 that tax money to preserve a farm or open field.
Buildings need upkeep but an open space is...an open space. What kind of preservation goes on?
Because you're not in the market to sell your farm or field. But you raise a good point.
in my town every house that comes into a town has an average of 2 kids. That costs the CURRENT taxpayers approximately $14000-$16000 for schooling. The new house might pay $8000 in taxes, so the rest of the original residents get soaked. I’d rather put 1/2 that tax money to preserve a farm or open field.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Very good point!
Open land is **much** cheaper than having to pay $14,000 to $16,000 a year per government school kid.
NY libs love their gubmint programs.
anything south of kingston is just north jersey
This isn't property tax. As indicated by others, this could help limit raises in the property tax for Red Hook residents. Some other interests are in play.
Then in 5 years they will all be complaining that housing prices are too high for the average joe to purchase a home. The median price adjustments will soon cancel this tax.....
My bad, I misread. This is a transfer tax as opposed to an actual property tax, but it’ll have the same effect as a higher property tax in driving down the resale value of properties there.
There are different interests involved. Some will support this measure/tax because it helps keep out more "average Joes."
I'm not sure what will be the effect on house prices. Maybe someone more real property savvy than I am will chime in.
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