We hope you and your family had a joyous holiday season, and we wish you the best for 2024. In this article, we’ll give you a quick look back at 2023, and provide you with a heads-up about things that will happen in early 2024 that you should know about and act upon.
Looking Back at 2023
As 2023 began, many expected that an economic slowdown, coupled with high inflation, would prove ruinous to the national economy. Thankfully, none of this materialized: while inflation is still a concern, it has moderated somewhat, and the economy continues to grow at a relatively healthy pace.
In October 2023, the 1st half 2023/24 School Tax bill was issued, which is the final tax year in which the 5-Year Reassessment Phase-in will be reflected on the tax bill. Beginning with the 2024/25 tax year, the 2020/21 reassessment will be fully realized, meaning there will be no further TPP exemption after the current 2023/24 tax year.
A high point in October 2023 occurred when Nassau County Comptroller Elaine Phillips made statements strongly advising residents to grieve their property tax assessments (a sentiment we align with). As reported in the LI Herald, Ms. Phillips, attending a Franklin Square Civic Association meeting, put it very simply and eloquently: “the moral of the story is: grieve your taxes. Because if you don’t, your neighbor is.”
The year 2023 had some great news for Maidenbaum as well. We launched a new client portal at https://clientportal.mptrg.com that will keep you “in the loop” with real-time status updates about your tax challenge. Make sure to bookmark this URL! We’ve also updated our website with new features, including our new Incorporated Village Deadline Date page—which lets you see whether your village conducts its own assessment or uses the County’s assessment—and our City Deadline Date page that lets you see the unique deadlines for the cities of Glen Cove and Long Beach.
Looking Ahead to 2024
While no one can know what 2024 will bring us in terms of the economy or in the world of politics, it’s crystal clear that Nassau County residents will need to get ready for some important communications from the County—and some deadlines—in the coming months. Here they are:
- On January 2nd , the County’s Department of Assessment will release the 2025/26 tentative tax assessments. Click here for some FAQs about these notices.
- Also on January 2nd, the County will issue 1st half 2024 General Tax bills. These bills are due by February 12th, without penalty.
- Further, January 2nd is also a significant date, as it’s the first day that grievances can be filed to challenge 2025/26 property tax assessments. We naturally recommend that you let Maidenbaum handle your grievance; letting us do the heavy lifting will let you relax and give you the assurance that you’ll have the leader by your side zealously representing your best interest. Get started here.
- In January/February, if you’re already a Maidenbaum client, you may be hearing from us with a communication concerning your 2023/24 property taxes; specifically, a bill for our services related to the reduction we obtained on your behalf.
- February 20th is the 2024/25 filing deadline for many incorporated villages. If you would like Maidenbaum to file on your behalf, we must receive your authorization form no later than January 30th (3 weeks prior to the deadline) so we may analyze to determine if you have a meritorious case. Click here to see if your village is included.
- Finally, March 18th is the filing deadline to challenge your 2025/26 assessment. Don’t miss out on your chance to save. Choose Maidenbaum today!
As you can see, there is a lot coming up in the Nassau County property tax world. No need to worry, Maidenbaum will be by your side along the way!