Steuben County, along with Corning and Hornell, has renewed a five-year sales tax sharing agreement that ensures stable funding for local municipalities. The deal guarantees Corning at least $2.2 million, Hornell $2.15 million, and county towns and villages $11.1 million annually.
Under the agreement, if county sales tax revenue exceeds the base amount, Corning receives 8%, Hornell 7%, towns and villages 36%, and the county 49%. Officials say this system provides financial stability and fair distribution.
Local leaders praised the renewal, calling it beneficial for all parties and a safeguard against economic fluctuations.
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