Even more of your neighbors are getting big property tax breaks this year. Isn’t it time that you stopped overpaying?
Some Long Island property owners are benefiting from a variety of tax exemptions, credits, and breaks this year. They are saving thousands, and even tens of thousands, and more on their annual property tax bills.
Yet, others continue just to blindly pay the property tax bills that come in the mail. Even when they face huge tax hikes, and are being blatantly and grossly overcharged.
This overcharging is even worse this year after flawed reassessments causing huge spikes in property tax bills in Nassau County, as well as an estimated $23B in income leaving the state as so many fled for freer states, and lower taxes and living costs. That is a lot of tax revenues that have to be made up for by those who stayed behind.
More Are Appealing & Winning Property Tax Challenges
Nassau County promised property owners a fairer and more accurate tax system and bills. Instead they got hammered with huge increases in tax assessments, and even more flawed bills. Some have seen their annual bills up 50%, or more.
This year 48% more property owners have filed appeals. 75% have already won those appeals according to coverage by Newsday.
If you are not grieving your assessment and bill, then it is highly likely that you are far overpaying.
Tax Credits & Exemptions
You should be getting help to ensure that you are applying for and receiving the tax breaks, credits, and exemptions you are owed.
This includes the exemption for superstorm sandy damage. Which was recently extended due to delays and shortages of construction materials during the recent COVID pandemic.
Long Islanders have also recently been hit with surprise income tax bills for grants and work on their homes. The IRS deemed some of these as taxable income, and hit many with extra bills for it.
This includes grants for updating aging septic systems in Suffolk County. The hope is that these monies will be reclassified to avoid double taxation.
Summary
If you haven’t gotten help securing the property tax breaks, exemptions, and credits you are eligible for, then you have been grossly overpaying on your taxes. There are certainly better uses of your money, even if that was to give it to an important charity, and getting more tax breaks for it.
If you are not sure that you have received all the breaks you are owed, get in touch with Property Tax Adjusters Ltd., for help today…