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Tax Levy, Collection, and Depository Banking

2025last touched · 12 source resolutions
↑Village/Rules/Policies/Adopted/tax_and_banking
Governs the annual tax levy and warrant, installment payment plans, re-levy of unpaid amounts, tax cap overrides, designation of official village depositories, banking relationships, money market accounts, and investment programs.
In force, by year of last update
2025
NYCLASS Program Participation
The Village of Red Hook is authorized to register in and participate in the NYCLASS short-term municipal investment program under the NYCLASS Municipal Cooperation Agreement amended and restated as of August 1, 2023. Prior to the initial investment, the Board of Trustees must review and adopt a NYCLASS Investment Policy.[12]
NYCLASS Authorized Signers
The authorized signers for the Village's NYCLASS program accounts are Mayor Karen Smythe, Treasurer Marybeth De Filippis, and Comptroller Michele Zagorski.[12]
2022
Salisbury Bank Authorized Representative
Mayor Karen Smythe is designated as the authorized representative on the Village's Salisbury Bank accounts.[10]
2020
M&T Bank Credit Card Program
The Village maintains an M&T Bank credit card program in lieu of the former American Express card. Cards are issued to the Mayor, Treasurer, and Clerk, each with a spending limit of $5,000, subject to all Village procurement policy requirements.[9]
2019
Primary Depository Bank Designation
Key Bank is designated as the primary official depository bank for all Village monies received by the Village Treasurer, Clerk, and Receiver of Taxes, pursuant to Village Law §4-412(3)(2).[3][5][7]
Money Market Accounts for Department Funds
New money market accounts have been opened to replace M&T Bank certificates of deposit for the Highway, Police, Water, and Fire Department funds, providing greater flexibility and improved interest rates.[6]
2018
Tax Cap Override Authority
The Village Board is authorized to adopt a local law overriding the property tax levy limit established under General Municipal Law §3-c, provided the override is approved by a vote of at least 60% of the governing body.[2][4]
2010
Re-Levy of Funds Owed to the Village
The Village Clerk is authorized to re-levy any funds owed to the Village by a Village resident onto the Village Tax bill. Eligible charges include water, snow removal, escrow, and planning and zoning fees.[1]
History · superseded or expired
2024
Tax Levy and Warrant — Fiscal Year 2024–2025
Expired May 31, 2025. The tax rate for fiscal year commencing June 1, 2024 was fixed at $5.10744 per $1,000 of assessed valuation, with a total levy of $1,401,440. Penalty schedule: 5% (July 2–31), 6% (August 1–September 3), 7% (September 4–30), 8% (October 1–31).[11]
Tax Levy and Warrant — Fiscal Year 2024–2025: Unpaid Tax Reporting
Expired May 31, 2025. The Village Clerk was directed to deliver the tax roll and warrant to the Village Treasurer on or before June 1, 2024, and in November 2024 to deliver to the Board of Trustees an account of taxes remaining due and unpaid.[11]
Tax Levy and Warrant — Fiscal Year 2024–2025: Exempt Property Re-Levy
Expired May 31, 2025. The Village Treasurer was authorized to levy and collect additional Village taxes upon termination of exempt status of real property under Real Property Tax Law §494 during the fiscal year beginning June 1, 2024.[11]
2020
COVID-19 Installment Tax Payment Plan (2020–2021)
Expired per its own terms after the 2020–2021 tax year. Village real property taxes were permitted to be paid in two approximately equal installments, with the first due by July 1 at no interest and the second due by September 1, with statutory interest accruing on late payments.[8]
2018
M&T Bank Certificate of Deposit Accounts
Superseded by footnote 6 (2019). M&T Bank was originally designated for certificate of deposit accounts alongside Key Bank as primary depository; those CDs were replaced by money market accounts in March 2019.[5]
Source resolutions
  1. [1]2010-03-08Authorization for Village Clerk to Re-levy Funds Owed to the Village
  2. [2]2016-03-14Tax Cap Override Authorization
  3. [3]2016-04-21Authorize Key Bank as Official Village Bank
  4. [4]2018-01-08A local law authorizing a property tax levy in excess of the limit established in General Municipal Law §3-c
  5. [5]2018-04-09Depository Bank for deposit of Village monies
  6. [6]2019-03-21Open money market accounts replacing M&T CDs
  7. [7]2019-04-08Designating Depositories
  8. [8]2020-05-11Resolution Setting the Collection of Village Taxes
  9. [9]2020-11-09Village Credit Card – Village of Red Hook and M&T Bank
  10. [10]2022-01-10Salisbury Bank Account Authorization
  11. [11]2024-05-13Resolution Authorizing the Tax Levy and Warrant for Fiscal Year 2024-2025
  12. [12]2025-06-09RESOLUTION TO PARTICIPATE IN THE NYCLASS MUNICIPAL COOPERATION AGREEMENT

Synthesized from the chronological history of these resolutions. Each clause shows the year it was last established or amended. The text is a reading aid — for legal force, consult the source resolutions and the Village Code.