Ulster County Receives Less Mortgage Tax Revenue

The amount of mortgage tax revenue that Ulster County has received a distributed to municipalities has decreased when one compares April-September 2007 to the same period in 2008. The county distributed about $1 million less from that period in 2008, which represents roughly a 27.5% decrease. The only municipality which received an increase in revenue during that period was the Town of Ulster–which received a 13.18% increase.

Municipalities that have relied on this mortgage tax revenue during the Ulster County real estate boom are going to have to adjust in light of the dip in the real estate market.

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