Revenue Secured For Municipalities
Nearly $3.7 million to be distributed in Cortlandt, Peekskill and Yorktown

FOR IMMEDIATE RELEASE: June 14, 2007

Contact: George Oros, Tel: (914) 995-2828, Oros@westchesterlegislators.com
Westchester County Legislator George Oros (R, C/Cortlandt) is pleased to announce once again that a sizeable surplus of funding from mortgage tax receipts will be distributed to the three largest municipalities in his district.

Nearly $3.7 million will be allocated by the Westchester County Department of Finance to the City of Peekskill and towns of Cortlandt and Yorktown for the period of October 1, 2006 to March 31, 2007.

Individually Cortlandt will receive $1,525,958, Yorktown $1,253,895 and Peekskill $900,210.

“Municipalities traditionally use this funding to reduce the local property tax burden on residents,” Oros said. “It’s a nice way to see some of their money returned to them and shows how desireable Westchester is for many families to call home.”

Over the last few years, Oros pointed out the mortgage tax reimbursements have remained steady for municipalities, which is helpful to supervisors Linda Puglisi (Cortlandt) and Linda Cooper (Yorktown) and Peekskill Mayor John Testa, and their financial advisors, when they prepare their annual budgets.

“They have all done terrific jobs keeping costs to a minimum and I’m happy the county can help in some way with this funding,” Oros said.