More celebrity property tax dodgers are coming into the spotlight, NY tax authorities are levying outrageous penalties, and more of the burden could be shifted to local homeowners. So who is there to turn to help in this broken system?
Hot on the heels of the Sandra Lee and Cuomo property tax scandal it has been revealed that the Clintons have been burying their tax burden in an advanced network of tax minimizing structures. According to coverage by Bloomberg News the Clintons have been using several layers of tax shelters to minimize tax liabilities on their estate and New York house. This comes right after the celebrity couple supported laws forcing others to pay more in taxes, in order to promote class equality.
The New York Post has just sounded the alarm for New Yorkers to check their mail boxes. Authorities have been sending out new property tax related fines to property owners who may have not even needed to pay much attention to their tax bills before. Apparently even if a mortgage company is handling the payment of property taxes, owners can be fined for essentially not telling the city they didn’t need to file a form. In some cases these fines are topping $300k. It’s no secret that property tax penalties can open the door to foreclosure and tax sales for pennies on the dollar, even if owners aren’t aware of the situation.
Fresh lawsuits are currently being filed in the courts to fight a variety of discriminatory practices. This includes accusations that allowing individual property owners to pay less than investment property and apartment building owners is wrong. If this goes through, more of the tax burden could be thrown onto regular homeowners resulting in them receiving even higher bills.
Ultimately it is essential for regular NY property owners to reach out for help and get representation in ensuring fair tax bills each year. Property Tax Adjusters, Ltd. can be that help.