Clifton Park supports IDA tax base analysis

CLIFTON PARK (Feb. 2) — The Clifton Park Town Board announced support for the Clifton Park Industrial Development Agency’s tax base analysis study, which will catalog current zoning regulations and analyze the fiscal impact of future land use scenarios in town.

The study is taking place in advance of the $4.2 billion investment by GlobalFoundries at the Luther Forest Technology Campus in Malta and Stillwater.

Clifton Park seal“This analysis will be another planning tool to help sustain the town’s healthy economic development as high-tech jobs and support industries flow into the county,” Councilman Scott Hughes said. “We’re doing our homework, rallying around a common vision and taking the proactive steps necessary to ensure a bright future for Clifton Park.”

Although Clifton Park does not have a town property tax, residents are still taxed by other jurisdictions, including the Shenendehowa Central School District and Saratoga County. The study will offer guidance to the school and other taxing districts to help manage and evaluate the impact of future taxing policy.

The tax base analysis will be paid for with approximately $35,000 from the IDA’s Economic Development Fund and will be administered by the Saratoga Economic Development Corporation. No town funds will be used to pay for the study. The tax base analysis is being conducted by Saratoga County-based Camoin Associates and is expected to take about four months to complete.

The study will review current zoning and land use requirements, revenues and the overall fiscal health of the town by analyzing the impact of commercial, industrial and manufacturing development in balance with existing residential, retail, recreational and open space uses.

“The fiscal and tax base analysis project will allow us to make smart and thoughtful planning decisions,” Supervisor Phil Barrett said. “This study complements the many long?range planning initiatives we have carried out in recent years, fulfilling our commitment to planned, managed growth.”

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