Are property tax breaks the key for helping Long Islanders to fund their New Year’s resolutions?
There have been significant talks about property tax breaks for New Yorkers recently. Beyond Startup NY, Gov. Cuomo recently spoke about additional breaks for some counties thanks to a budget surplus in 2014.
However, due to the fine print many Long Islanders may never see any benefit if the proposals are even passed. Among these are likely to be those living in Northport in Suffolk County which recently voted to approve breaking through the ‘property tax cap’.
According to the media and retail figures stores opened late this holiday season and even began after Christmas sales before the 25th to boost lackluster figures. This suggests many are still tighter on finances than they’d like to be. Sky high Long Island property tax rates are certainly a part of this.
So for those making New Year’s resolutions for 2014 this week finding other ways to reduce property tax bills could be the best way to finance their weight loss, fitness and financial goals, as well as the 2014 holidays.
Those eligible for the STAR exemption have until December 31st to put in their claims or re-register. However, for most Long Islanders the big difference and most savings will be seen from an adjustment in their assessed values and filing a property tax grievance.