1 Min Read
NEW YORK, March 12 (Reuters) - Suffolk County, New York, could have a budget shortfall of as much as $250 million by the end of next year, County Executive Steve Bellone's budget staff told county lawmakers on Tuesday, according to news website Newsday.
Storm Sandy, which hit the Long Island county late last year, means the county could sustain a $35 million loss to its property tax revenue because of destroyed real estate adding to the county's shortfall. The news came at a presentation during a regular budget and finance committee meeting, the website reported.
Suffolk County, the Eastern half of Long Island that includes posh Hamptons beaches, declared a county fiscal emergency in March last year after an independent task force predicted a 3-year deficit of $530 million.
County officials were not available for comment.