Vetoed Hamptons affordable housing tax could be revived next year

A vetoed bill that would have imposed a tax on real estate transfers in five Hamptons towns, in order to bolster affordable housing, could be revived next year, Newsday reported. Gov. Andrew Cuomo vetoed the Peconic Bay Regional Revolving Housing Funding bill, which “would have levied an additional half-percent tax on real estate transfers in the towns of Riverhead, Southold, Southampton, East Hampton and Shelter Island,” but lawmakers are expected to try to pass it again next year. Funds from the tax would go toward affordable housing initiatives in the area. The bill’s sponsor, Assemblyman Fred Thiele Jr., said the tax could have raised anywhere from $15 million to $20 million per year. [Newsday]