District needs quick solution
The Hudson River-Black River Regulating District is facing a financial setback that could have a devastating effect on taxpayers in Fulton County.
In October, the regulating district Board of Directors deferred payments of the district's 2009 taxes to local school districts after a court ruling affected the regulating district's authority to assess some downstream beneficiaries. The result of the court ruling will be a revenue shortfall that could approach $4 million of the regulating district's $5.4 million operating budget for the Hudson River area, according to the district.
The district now owes roughly $900,000 in property taxes to several school districts in the county. Failure to pay the taxes would be a blow to the Broadalbin-Perth, Mayfield and Northville districts, which may have to borrow money to make up the shortfall in the short term. Meanwhile, Fulton County government, under state law, would have to make the payments to the school districts and later pursue payment from the regulating district.
Something must be done soon to stem this crisis.
One proposal would offer a way to pay the delinquent taxes and give the regulating district more time to find a longer-term solution. The state comptroller's office helped the regulating district prepare legislation that would give the district authority to make temporary interfund loans between the Black River and Hudson River accounts, thus allowing the regulating district to pay the tax bills. Regulating district representatives are working with the office of Gov. David Paterson to introduce the legislation.
Unfortunately, the measure likely wouldn't go to the Legislature for approval until next year.
A quicker short-term solution may be for the comptroller and governor's offices to come up with a way to borrow money immediately without having to go through a cumbersome legislative process, said state Sen. Hugh T. Farley, R-Niskayuna.
Either way, the state and regulating district have to move quickly to resolve the situation.
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Commonsense
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12-08-09 12:09 PM
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Taken from Town of Edinbugh site: "A plan to finance the project was drawn up by the Regulating Board in 1925. Nineteen private industries that would benefit from the water power would bear 95.5% of the cost. The cities of Albany, Green Island, Troy, Rensselaer and Watervliet benefitting from flood control would bear 4.5%. In this way there was no direct cost to the taxpayer."....maybe thats what should happen now.
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Patriot1
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12-06-09 10:19 PM
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Interestingly enough, each of the preceding six comments has much merit. One further thought -- how about petitioning the federal government for some "stimulus funds" to assist in this short-term crisis. Those funds could also go a long way toward solving the Bachelorville Bridge crisis.
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GoGreen
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12-06-09 9:16 PM
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We all know what would happen to our property if we owed just one year of property taxes? Unfortunately fulton county will have to "borrow" money in the form of raising our taxes - but guess what WE don't get paid back.
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Discobulous
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12-06-09 10:09 AM
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Clearly the dudes who run it now are all wet. Why can't the county forclose or file a lein on their fancy headquarters to start with. I say run 'em outta town.
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TiredOfTax
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12-06-09 10:01 AM
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The blocked word is a structure used to hold back water, a devise to block or hold water in place like a lock, located on the end of the lake, in this case Bachelorville.
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TiredOfTax
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12-06-09 9:58 AM
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Or being that it is supposed to be used to control the salt water and the flooding in the Hudson, the people that benefit should pay the expenses. Or if not, simply remove the****and allow it to go "back" to nature. This entity has made far too much news lately. New and competent leadership is obviously needed. Not greater taxes on people that get nothing but grief and expense from the RESERVOIR. Another example of government involved expense.
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ps1222
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12-06-09 8:39 AM
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Everything is about borrowing money to pay the bill here. Right SHORT TERM solution. So what is being done about the longer term here - meaning the SPENDING the HRBRRD is doing? What CUTS are being made here? Sell the land to permit holders and reduce the staff at the HRBRRD. Taxes will get paid this way and we won't need very many state people to just regulate the water level and maintain the land that would still be state land (that they don't do a very good job of maintaining now). Tax problem goes away and can even employ local people now engaged in selling service to lakefront owners to maintain their waterfronts. Let's ask the governor what he thinks about this approach.
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