In percentages, residents in the Town of Colonie would have a tax levy of $1.273 per $1,000 of taxable assessed value; $1.152 for residents in the Village of Menands and the Village of Colonie; $1.64 for commercial property in the Town of Colonie; and $1.363 for commercial property in the villages.
Mahan has said that the tax was expected to generate about $7.5 million to use toward paying off the deficit.
When the resolution for the home-rule message came to the table at the Town Board meeting, two Republican board members voiced concerns with the tax.
Councilman Brian Hogan declared that he was "certainly not in favor of this," and Councilwoman Nicole Criscione-Szesnat, said she was not well informed about the one-time tax ahead of time.
A resident in favor of the one-time corrective tax, Gloria Knorr, of Loudonville, said that she had been following the bill in the Legislature and was disappointed to see it fail.
"I wanted it to go through the Assembly and pass in the Senate, especially so they wouldn't take money away from other things in the town, like the library," she said.
Now that the bill has been put on hold, perhaps only until July when the Legislature is expected to meet again for a summer session, otherwise until January, Mahan said the town has to move forward with the sale of some of its assets to raise money to pay off both the long- and short-term debts.
"This is a very serious situation, as you know, and we have to continue our efforts to stabilize. Part of our plan is the sale of assets, so we will intensify our search in terms of that," said Mahan.
One of those assets is a parcel located on Central Avenue, currently used by the town as a storage garage. At the last Town Board meeting, Thursday, June 26, the board passed a resolution to begin receiving bids for the parcel, Mahan said. The town has already received one bid for the parcel from the North Colonie Central School District.
Mahan expressed disappointment that the one-time tax bill did not go through the Legislature, but she said the town would be able to recover without it.
"It's definitely a hardship, not being able to implement the one-time tax, but we have made some good, positive gains, such as the sale of Heritage Park," said Mahan.
Mahan said the contract for Colonie's portion of the park, which will bring in about $2.7 million, has been signed by the town, and officials are waiting for it to be signed by Albany County.""