After waiting far longer than expected for tax rebate checks many New Yorkers have now found the state shorted those checks too. Did you get ripped off on your NY property taxes this year? What can be done to avoid these scandals in the future?
The state recently admitted that many STAR exempt homeowners in New York didn’t receive the money they were due. They may have received checks, but for less than they were owed. Estimates put this at as many as 20% statewide, or well over 100,000 homeowners. However, Syracuse.com reports the state says it doesn’t even really know how many inaccurate checks were sent out this year.
This debacle is in additional to the 48% plus of NY property owners who are expected to have received incorrect and over-inflated property tax bills this year. This is all while New York continues to raise annual property taxes, even though other counties in America are reducing taxes.
Surprisingly, some of the domestic and international destinations with low or no annual property taxes are those which are no growing and flourishing the most. Look at Dubai and now the Dominican Republic which is seeing great population, economic, and real estate growth.
Beyond the cost savings and economic advantages of no property tax zones, there is also the efficiency and protection advantages this approach offers. Consider how many millions are lost on failed tax programs, administrating tax levies and collections, and debating laws. How much better could those dollars be used if they were added to the economy through other channels? How much more time would government and its staff have to apply itself to more beneficial plans and services if it wasn’t weighed down by property taxes?
Living in NY is amazing. Owning property in Manhattan and on Long Island can be a great investment. High property taxes may not dissuade many from buying and living here, but it makes sense to get help claiming what you are owed, and ensuring you are not being victimized by flawed tax assessments and annual property tax bills. Property Tax Adjusters, Ltd. can help with that…