New York Property Taxes Predicted To Rise Despite Cuomo Proposals

Blog February 7, 2014 By Admin

NY property taxes could be set to skyrocket despite promises of cuts, while authorities try to deal with the Bieber monster…


Despite new multi-billion dollar tax cut proposals from Gov. Cuomo in early January various sources continue to warn of rising bills for residents throughout the state including those on Long Island.


On the surface Cuomo’s $2.2 billion tax plan which he says includes renters, estates and property taxes seems to be the long awaited relief New Yorkers have been begging for.


However, since this coverage by CBS News on January 6th, 2014 Yahoo Finance published its list of ‘The 10 Worst States for Taxes in 2014’, which still places NY in number 1 position.


The New York Post dug in even further warning of a coming spike in property taxes for real estate owners in the Empire State. According to the Post the average single family homeowner will see property tax bills up by 3.8%. It gets far worse for co-ops and condos which are forecast to see a 7.4% spike of an average of $552 dollars more per unit.


Meanwhile previous tax cut programs like Startup NY appear they may hold the most benefit for those coming in specifically to cash in on making money in the new tax free zones. While we wait to see if there is any net benefit for Long Islanders we have out of control foreign pop stars that according to Wikipedia have said they have no interest in U.S. citizenship raking in millions, with law enforcement apparently helpless to try a force deportation despite a potential string of felony offenses.


Perhaps we can’t help but love the baby faced teen heartthrob, but maybe extreme financial penalties levied against criminals could be used to offset the property taxes of law abiding residents and motivate them to be better role models?


Until that happens the best defense against soaring Long Island property taxes appears to be filing a tax grievance, and requesting assessments be re-evaluated…