Every Long Island homeowner should resolve to double check their property tax bills and assessments and promptly challenge them in the New Year, if not before.
With 40% to 50% of Long Island property tax bills admittedly incorrect or overblown the chances are you and several people you know are being grossly overcharged for property taxes each year. Is letting this slide year after year really the best use of this cash, even if you can afford it?
According to Newsday coverage Oyster Bay homeowners face an “8.8% tax levy” hike, which will actually result in “double digit hikes” for some LI homeowners in 2015. The Manhasset school district is working on a $22.6 million budget bump to cover renovations which will push up their property taxes. Similar scenarios face many across Nassau and Suffolk County.
While few love the idea of paying more property tax most understand that costs do escalate and schools do need to be maintained. However, overcharging and unfairly disproportioned charges and collections just aren’t right by any measure.
In November 2014 the NY Times revealed that New York resident Al Sharpton was one of the most indebted in terms of taxes. Despite 1% level income the investigation shows Sharpton not only subject to millions of dollar in tax liens (which continue to grow), but the subject of lawsuits from landlords for what the media suggests is for non-payment of rent. This is only one of many high profile cases. The real news is that low income earners are those being pursued the harshest, having wages and bank accounts garnished, and are sometimes being foreclosed upon for just a few dollars in delinquent property taxes.
Even if doing fine financially now, it is certainly better to stop overpaying sooner rather than later. If you don’t need the extra money being spent on incorrect tax bills and can’t think of a good charity to receive it, at least file a property tax grievance to send a message, and help others in need.
Contact Property Tax Adjusters, Ltd. today and find out if you are being overcharged, and discover how much you could save on your property taxes each year.