Sussex council to discuss transfer rights funds

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Sussex County coffers benefit from housing boom. At the county council meeting on January 11, Sussex County Chief Financial Officer and Chief Operating Officer Gina Jennings reported that property transfer tax revenue was $12 million over budget so far. now this exercise. She recommended that council consider allocating $6.4 million to cities and towns and $5.6 million to purchasing open space. Any spending would require a budget amendment approved by the council, which is expected to discuss the recommendation at its meeting on Tuesday, January 25 from 10 a.m. in the county administration building, 2 The Circle, Georgetown.

Real estate transfer taxes, the county’s largest source of revenue, can be spent on capital and operating costs for public safety departments, economic development programs, public works capital projects and improvements, infrastructure projects and improvements and debt reduction.

The 4% tax is levied on the sale of all goods, with 2.5% going to the state and 1.5% to the counties.

Around this time last year, the board voted to spend nearly $10 million in excess transfer duties, including $1 million to acquire land for future medical service stations in emergency, $5.375 million for 22 county ambulance and fire departments and $3 million for the Excite Sussex loan. Fund, the county’s economic development loan program.

View the full agenda and meeting materials at sussexcountyde.gov/agendas-minutes/county-council.

Meetings are available in person, streamed live at sussexcountyde.gov/council-chamber-broadcast, and by phone by calling 302-394-5036 using the code 570176.

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