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Erie County's transfer tax revenue — used to pay for road repairs — took a hit in 2020

Revenue from Erie County's real estate transfer taxes dropped nearly 18% in 2020, and that places a large hole on the list of road repairs in 2021.
Credit: WGRZ
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ERIE COUNTY, N.Y. — Revenue from Erie County's real estate transfer taxes dropped nearly 18% in 2020, and that places a large hole on the list of road repairs in 2021.

The slump in revenue was caused by fewer real estate deals in 2020. Last year, there were 22,870 real estate transactions – residential and commercial combined – according to county clerk's records. That was down about 11% from 25,668 deals filed in 2019.

Residential deals accounted for half of total property transfers.

You can read the full story on Buffalo Business First's website

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