This year’s series of nor’easters seem to be relentless, and it’s not over yet. How will they affect your property taxes?
The northeast continues to be hammered by bad weather, and more storms could be on their way. It is important to stay safe, and secure your property. Yet, these major storms, and those which could be coming from the quickly approaching Atlantic Hurricane Season, can play a big role in how much property tax you should be paying.
Governor Cuomo has granted some extensions for some state tax filings do to this March’s string of nor’easters. Check the list of extensions and dates from the Department of Taxation and Finance here.
Higher Property Taxes
These storms could be more of a burden in Nassau County which is struggling to pay back tax refunds. The County Executive says borrowing to pay back property tax refunds is strangling the budget. About $125M is needed to pay the debt on money borrowed to pay back refunds each year. Even more may qualify for property tax reductions after these storms. Even more property owners are applying this year due to the new tax bill. It is much better to appeal ahead for 2019-2020, than back. Especially as those who don’t appeal may be picking up the bill for a lot of the damage from these powerful storms.
Property Damage & Tax Assessments
If your home is damaged you may qualify for a further reduction in your property tax assessment and property tax bill. These savings can definitely help during transition times, and if you have to move or repair property, and are waiting on insurance money. Just make sure all of your home insurances are updated as well.
Find out how much you qualify to reduce your property tax bill by with Property Tax Adjusters, Ltd., today…