Rockland County exec pitches taxpayer protection planPosted: Updated:
Rockland County Executive Scott Vanderhoef is pitching a plan to state legislators designed to protect taxpayers and counties from financial crises.
Vanderhoef points to circumstances like the recent Mirant situation. In that instance, the company contributed more than 5 percent of the total property tax for the area, and then went bankrupt. When Mirant stopped paying its taxes, Rockland County was required by law to make up the difference. The state would take the place of the county during those types of financial emergencies if Vanderhoef?s idea becomes law.
Vanderhoef says his plan could protect all counties in New York State when corporations go belly up. Vanderhoef?s next step is to sit with state representatives about a potential statewide plan.