Legislation to help Town of Frankfort after court ruling passes Senate, heads to Assembly

By WKTV News

TOWN OF FRANKFORT, N.Y. - State Senator James L. Seward said on Thursday that legislation allowing the Town of Frankfort to bond for costs associated with a court ruling has passed the state senate.

The legislation, if signed into law, would allow the town to pay off the corresponding debt over a fifteen-year period avoiding a significant property tax spike.

"Towns are dealing with a number of fiscal difficulties and budgets are tight - unplanned expenses can result in major property tax spikes," said Senator Seward. "Bonding to pay off sudden costs is a prudent strategy that will allow the Town of Frankfort to meet its obligations while minimizing the impact to homeowners."

A recent state supreme court decision found that the Town of Frankfort owes Herkimer County $1.45 million for workers compensation costs. The ruling pertained to the workers' compensation self-insurance plan managed by the county.

The legislation, which Senator Seward sponsored, follows a local request and gives the town permission to issue serial bonds in order to settle the pending litigation and manage the debt over an extended time period easing the effect on property taxpayers.

"Measures are being taken, both at the state and local levels, to revitalize our Mohawk Valley communities and attract new business and families. Keeping property taxes in check will help spur new development we all desire," Seward concluded.

The bill has been sent to the assembly where it is sponsored by Assemblyman Marc Butler.

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