Another Ulster County Real Estate Transfer Tax?

A local news outlet is reporting that Ulster County lawmakers are proposing an Ulster County Real Estate Transfer Tax to cover a shortfall in the budget. The tax would be $5 per $500 of the sales price, but would exempt home sales under the Ulster County Median Home Price, which is approximately $260,000.

This real estate tax proposal is another attempt to cover up poor government management by taxing real estate. Residents already suffer from some of the highest property taxes in the country and the highest mortgage closing costs in the country. If the proposal passes, it will have a negative effect on the Ulster County Real Estate market, which is already showing signs of slowing down.

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