New Nassau County Property Tax Assessments On Their Way
Friday, July 3, 2015
Nassau County has just announced that all businesses and homes will be reassessed for property taxes. What will it mean for you?
At the cost of around $8 million all Nassau properties will receive new tax assessments that will kick in for 2018. The last assessment like this was when the market was on a bull run in 2003. A new assessment for 2018 would likely land around the same point in the housing cycle as before. That means hitting Long Island homeowners with even larger tax bills.
Regular and accurate assessments should be a good thing. Annual assessments would help NY homeowners when property values dip by giving them a break, and then be less of a bite when they go up in good times. Though many may question the ethics behind this latest announcement which only appears to ensure Long Islanders keep paying more in property taxes.
A member of the Board of Assessors which monitored reassessments last time told Long Island News
12 he is “concerned there’s no oversight this time.”
Via News 7 he also added that many people have been successfully grieving and reducing their taxes for “six years in a row”.
If assessments result in higher property tax bills in Nassau County
but are still flawed, and the system remains flawed many more property owners may need to appeal their taxes each year. It should be no surprise that ‘the system’ continues to manipulate Long Islanders in an effort to raise tax revenues, even while saying efforts are being made to reduce taxes. What’s startling is those that just lay down and take it and give away their hard earned money, or put their family homes at risk, instead of filing appeals.
So Nassau property owners should anticipate higher property taxes on the horizon. But don’t forget that there is help available, and assistance for filing a grievance
to reduce those overinflated bills.