Want to know how much your neighbors are paying in property taxes?
There are few places on the planet where property taxes are so high, and the disparity is so wide, than on Long Island, NY. It’s no secret that the tax system is broken, or that around half of Long Island property owners are over-billed each year. But some may be surprised by how much they are over paying, and how much they could be saving.
While many Long Islanders seem to still be waiting in vain for promised tax breaks and tax rebate checks, and NY property owners brace for another round of properties to be auctioned off for past due property tax bills the Long Island Billion campaign appears to have score a $550 million windfall for new developments.
$400 million has been pegged for Nassau and Suffolk County. $150 million is a part of the $5.4 billion NY was owed from the national mortgage settlements. This money isn’t reportedly designated for any projects in particular. At the same time many New Yorkers are about to lose their homes and properties at May 15th tax lien auctions. Many might argue that settlement money for defrauding borrowers might have been best dedicated to saving the borrowers victimized, and helping them to keep their homes.
Those curious about how much their neighbors are paying in property taxes, and where they might find better tax rates can check out tax rates by area and individuals here.
Feel like you are paying too much in property taxes? You probably are! Fortunately, most will find they can cut their property tax bills with a little help from Property Tax Adjusters, Ltd.