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Governor Signs Law to Allow Hotel Tax in Cold Spring

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New legislation that will allow the Village of Cold Spring to impose a hotel and motel tax of up to five percent was signed into law last week by Governor Kathy Hochul.

The act will take effect immediately and expire after three years. The bill was sponsored by Assemblywoman Sandy Galef and Senator James Skoufis.

In accordance with the Municipal Home Rule Law, a village may adopt local laws that relate to the levy and administration of local laws if authorized by the State Legislature. Village of Cold Spring officials requested the special legislation which now enables them to collect a hotel and motel tax to raise additional revenue for the village.

“The Village of Cold Spring is a visitor destination for people from across New York and across the globe. Because Putnam County does not share sales tax with the village, our taxpayers have carried the financial burden of tourism alone,” said Cold Spring Mayor Kathleen Foley. “This local occupancy tax will allow the village to bring in revenue directly from visitors, easing tourism’s financial burden on our residents. The Village Board is grateful to Senator James Skoufis and Assemblymember Sandy Galef for sponsoring the enabling legislation, and to Governor Kathy Hochul for signing it into law. New York works best when we work together at every level of government.”

Galef and Skoufis said the law will help Cold Spring adequately accommodate tourists.

“The village is the one of our region’s busiest tourist hubs and should be able to raise the funds to accommodate and profit from this boon to business. I am glad that this new legislation recognizes just how important tourism is to Cold Spring and how important Cold Spring is to the economy of our region as a whole,” Galef said.

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