County Clerk Kendall Submits Mortgage Tax Semi-Annual Report for Distribution to Cities, Towns, and Villages
Poughkeepsie, New York: County Clerk Brad Kendall submitted to the Dutchess County Commissioner of Finance the Mortgage Tax Semi-Annual Report collected between April 1, 2019, through September 30, 2019. Under Section 261 of the Tax Law, the Commissioner of Finance upon review and approval by the New York State Department of Taxation of Finance remits payment to cities, towns and villages amounts due.
Transactions conducted between April and September took in $8.3 million with $3.6 million distributed to MTA and $4 million to the municipalities. Despite global economic slowdown, the U.S. housing market showed growth. Dutchess County saw an 3% increase over 2017/2018.
Dutchess County Clerk Brad Kendall stated, “Dutchess County with it’s rich history and outdoor amenities, our housing offerings in quaint villages, vibrant towns and artistic cities with its picturesque location next to the Hudson River, access to MetroNorth Rail Road and major interstates provides prospective and current homeowners a quality of life that is unsurpassed.”
Sandy Tambone, Executive Director of Mid-Hudson MLS stated, “The market continues to be robust with third quarter units sold of single-family detached homes on par with last year. The median sales price is up 7% to $300,000. Inventory of homes for sale is still a challenge down 4% as interest in purchasing in Dutchess County remains high.”
The Dutchess County Legislature will vote on the appropriation of funds at the November 12 Board Meeting.