More Discussion on Broome Sales Tax Formula

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More Discussion on Broome Sales Tax Formula

By WBNG News

The Broome County Finance Committee says it will will be patient, while considering a change to the county's sales tax formula.

It held a meeting tonight to encourage discussion between county legislators, and municipal leaders who believe the plan could cause their city, town or village to lose out on much-needed sales tax revenue in the long run.

"The mayor and city council recognize the county is under some serious financial pressure, and we need to all work together," said Tarik Abdelazim, Deputy Mayor of the City of Binghamton.

"We can't wait. And like I said here, we're not just looking at 2010, we also look at 2011, because the budget we do in 2010 has an awful lot to do with what the e2011 budget is going to turn out to be," said Broome County Legislator, Gene LaBare.

According to property tax law, if the county wants to change the way it distributes tax revenue, it must notify municipalities that will be affected 6 months prior to the start of the next fiscal year.

Municipalities were notified just last week to the county's proposal, but some Legislators say the change in formula wouldn't take effect until about June of 2010.

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