New developments suggest that even higher property taxes could soon come to homeowners who have been hard hit by big storms over the past few years.
In the wake of Hurricane Harvey, Houston’s Mayor has threatened a 3.6% property tax increase, if government funds aren’t provided as aid. Mayor Turner cites a $25M debris removal bill, $15M insurance deductible, and a cap on insurance coverage, as well as need for new insurance as some of the costs being accrued. These are just the beginning of public expenses building up in Southern Texas.
The cleanup and repairs costs in Florida could be far higher. Then there is Puerto Rico, which is dealing with extreme devastation. Yet, these are only the most recent natural disasters. On Long Island, NY, Sandy ravaged homeowners are still meeting to figure out their property rights, how to get insurance money, make smart repairs, and find ways to recover financially. While the bulk of the cleanup from Sandy is long past, this shows just how long it can take to recover, and gives a glimpse at how much of an extra burden and drain these storms can be on residents, homeowners, and local government. Long Island property taxes have continued to go up for those who haven’t been challenging their property taxes bills. Though those that have retained help to file property tax grievances have often seen them go down.
Those living in Houston, Florida, Puerto Rico, and Long Island should anticipate tax rates going up for the foreseeable future. This is on top of insurance costs, and inflation on everyday living expenses.
The main way that individual homeowners can take action to control their property tax bills is to address their tax assessments. Your tax bill is based on the tax rate, multiplied by the tax assessed value of your property. This interactive map shows just how much tax bills have changed in Nassau County, and the huge difference to what those who don’t stand up for themselves pay, versus those that do file appeals.
An expert at Property Tax Adjusters, Ltd. can help you determine what savings you should be eligible for, and guide you to getting a fair bill.