If you thought you’d already heard every excuse possible for not fixing the Nassau County property tax system, you’re really going to love this twist…
Thankfully, Long Islanders still have the right to appeal their deeply flawed property tax bills. Property Tax Adjusters is standing by to help you do this, and potentially save thousands of dollars in tax overcharges each year.
For those that haven’t been challenging their tax assessments and tax bills, this is becoming even more urgent. We’ve already all seen the data in the local news showing how dramatically less locals are paying in taxes once they’ve appealed, versus those seeing their bills skyrocket after failing to do it again.
The latest sham could make things even worse.
Now that the property market has peaked, Nassau County has decided to reassess properties for taxes, at new record highs. The county executive has also made the bold move of altering how your property will be assessed. While you may have received a notice about this change, you’ll notice it likely completely failed to tell you how much your bill will increase because of these changes. Some may face steep hikes.
Here’s a few fun facts that really stick it to Long Island homeowners and small businesses owners, and could drive those property taxes even higher real soon.
In Oyster Bay, the town recently hiked parking permit costs by 400%. Supposedly to eliminate the need to increase property taxes. Guess what? The new 2019 budget, calls for an additional $600,000 in funding from local taxpayers, hitting them from both sides.
We recently covered the fact that Long Island school districts have piled up an extra $2.4B surplus in cash. Yet, LI school districts continue to say they don’t have enough money. Where do they get that from? By adding to your property taxes.
You may have also heard that Amazon now says it will locate half of its new HQ2 in Long Island City. It claims it will invest $2.8B in that effort. Here’s the twist on that - NY is giving Amazon $2.5B in aid and tax credits, including reducing their property taxes by $386M. They could get even more in aid too.
All of this is putting more upward pressure on property taxes for those on Long Island. Be sure to make your move and appeal now.