Ulster County Comptroller

News

Press Release on Short-Term Rentals

Kingston, NY (July 20, 2022) –Ulster County Comptroller, March Gallagher, released a snapshot report on the impact of the short-term rental market on Ulster County. The analysis compares Ulster County to other surrounding counties and finds that 3% of all housing units in the county were being offered as short-term rentals through platforms such as Airbnb as of the end of June 2022. The Emergency Tenant Protection Act defines less than 5% vacancy as a housing emergency.

PRESS RELEASE: Comptroller's Release of the 2022 Ulster County Fund Balance Report

Kingston, NY (July 7, 2022) – Ulster County Comptroller March Gallagher released a report on Ulster County’s Fund Balance. The Comptroller’s analysis shows that the County is currently $54 million over the fund balance threshold based on current limits established by the Ulster County Legislature last year. “Fund Balance is a vital cushion that allows County government to prepare for an uncertain future. Ulster County could see significant revenue declines in sales tax as inflation or a recession impacts consumer spending in 2023 and beyond,” said Ulster County Comptroller March Gallagher.

Recent Reports

Short-Term Rental Snapshot

Ulster County has long thrived off the tourism and hospitality industry. Tourism and hospitality represent 45% of all Ulster County jobs created in the last year. According to the Albany Times Union, Ulster County hosts earned over $7 million in Airbnb revenues in 2021, a 133% increase over 2019 revenues and a full 6% of the entire host market in New York State. Ulster County has seen Occupancy Tax collections grow substantially from $1.53 million to $3.57 million over the last five years.

2022 Ulster County Fund Balance Report

Ulster County closed out 2021 with an $84.9 million unassigned fund balance which is $54.4 million above the County’s current policy limits. Fund balance is the excess of net revenues over net expenses for the given fund. The fund balance is broken down into non-spendable, restricted, committed, and assigned funds (funds the County has an intended purpose to spend) and unassigned funds (funds for which no restriction has been imposed).