Why aren’t Long Island property owners receiving huge discounts or refunds on their annual property taxes this year?
Other counties around the country are stepping up to do the right thing and adjust property taxes due to recent events and changes. We don’t seem to be seeing that in NY. In fact, many property owners in Suffolk and Nassau County on Long Island are seeing massive increases instead. What’s going on?
The Big Savings Being Handed Out Elsewhere
Illinois may not be famous for much besides its violence and fast rising taxes. Though even there millions of dollars are being refunded to taxpayers from school district taxes after the huge savings they enjoyed in 2020. Closed schools meant districts spent a lot less than normal. With more kids staying home and choosing online learning going forward those expenses should stay much lower.
School taxes make up the bulk of property taxes. So, not only are property owners getting refunds this year, they may also expect even lower property taxes going forward.
In other states like Florida, counties are also reducing annual property tax bills due to a variety of cost savings over the past year.
New York probably has some of the largest public service spending each year. With many of those services suspended or minimized over the past year, billions of dollars should have been saved. Savings that could be sent back to property owners. So, why isn’t that happening?
A System Built For Preying On Its Customers
Governing authorities on Long Island have made no secret of the fact that the tax system is broken and annual property tax bills are deeply flawed. Around 48% of all property tax bills sent out each year are knowingly overinflated.
This has been going on for many years, before the recent spree in property tax hikes.
It is a system which seems to intentionally prey on its own customers each and every year. Making sure that you aren’t overpaying each year is put on the property owner. They count on a large number of residents and business owners failing to appeal, and just overpaying.
In any other industry this would be considered criminal. Can you imagine your car mechanic or restaurant purposefully doubling everyone’s bill, and then only agreeing to correct it for those who complain? Yet, that is exactly what is happening here.
You can get a big break on your annual property taxes. You could be owed refunds, and enjoy much lower bills going forward. While getting thousands in voluntary rebates from the school district may never happen on Long Island, you certainly still may be overpaying by thousands each year. You have the right to appeal. Get in touch with Property Tax Adjusters, Ltd. today to find out how much you are being overcharged, and how much you should be saving.