Long Island residents continue to be bewildered by skyrocketing property tax bills, despite promises of caps.
Many Suffolk and Nassau County residents are having a hard time understanding how the property tax bills on their homes keep going up so dramatically. Isn’t that what the Governor’s 2 percent property tax cap supposed to prevent that, or at least limit it?
Yes, but thanks to using complex calculations and loopholes the 2% cap only applies to certain items. That leaves plenty of room for circumventing the cap. This is becoming a major concern for Long Islanders as school budget votes unfold for determining next year’s property tax bills.
This is even if property owner’s bills are accurate or based on accurate information in the first place. According to NBC New York Long Island Power Authority has been charging LI residents five figure sums on utility bills for homes burned down in Sandy, and which no longer even exist.
So imagine how grossly distorted property tax bills are, when even some homes untouched by recent disasters are now reportedly being sold for 50% below their previous values.
Meanwhile local businesses are getting massive tax breaks. In at least one case in Nassau County an auto dealer has received just shy of $100,000 in sales tax exemptions on top of having property taxes frozen for 3 years, and negotiated a discount for the following 9 years after that, even though laws bar these types of sweetheart deals.
Guess who picks up the tab for that? That’s right it’s you!
Get your tax grievance filed and stop overpaying on your property taxes while others get breaks. There is professional help available to file your appeal, but you have to be the one to initiate the process. Contact Property Tax Adjusters to get started now…