Nassau County Property Tax Update: Summer 2021

Summer is traditionally a slow time in the world of property taxes here in Nassau County. Deadlines for filing property tax grievances for the latest tax year have passed, next year’s tax roll has yet to be finalized, and new school tax bills are still months from being received. (That’s why we recommend that you heed our advice and enjoy some summer fun on Long Island during this quiet period.)

That being said, there are some important ongoing developments with the property tax situation in Nassau County that we’d like to bring to your attention to keep you fully informed.

Local Property Tax Levy Rise to Be Capped at 2% Next Year

On July 14th, New York State Comptroller Thomas P. DiNapoli announced that annual local property tax levy increases will be capped at 2 percent throughout New York State in 2022. This tax cap applies to the Nassau County general tax levy, which is a portion of all homeowners’ tax bills. While the 2 percent figure is well above the 1.56 percent increase provided for in 2021, it’s good news for Nassau County homeowners already struggling with some of the highest property tax rates in the U.S.

“As the economy recovers from the pandemic, local governments have seen some revenues rebound and have benefited from one-time federal financial assistance,” wrote DiNapoli. “At the same time, the risk of inflationary cost increases and the need for investments that will stimulate economic growth and fund essential services may lead to challenging budget decisions ahead.”

$375 May Be Coming Your Way

In mid-May, County Executive Laura Curran announced a plan providing for direct cash assistance to Nassau County homeowners who continue to struggle with the negative economic consequences of the COVID-19 pandemic. According to the County Executive’s official announcement, “approximately 300,000 homeowners in Nassau County would receive a payment of roughly $375.”

The plan – made possible by the County’s receipt of $385 million in aid from the Federal Government via the American Rescue Plan Act – faces several hurdles before checks can be issued to homeowners. First, the U.S. Treasury department must confirm that such payments do not run afoul of any provisions of the American Rescue Plan Act; and second, the plan must be approved by the Nassau County Legislature before going into effect.

Let us hope that any obstacles to providing relief for Nassau County homeowners can be overcome as soon as possible.

Nassau County Homeowners Are Grieving (and Winning Reductions in Their Property Taxes)

New statistics released by the Nassau County Legislature report that some 219,780 Nassau County homeowners filed property tax grievances during the current tax year. 109,606 of these grievers – about 50 percent — received reductions on their property tax bills, almost double the number who won reductions for the 2020-21 tax year. Average reductions for 2020-21 were 5.5%; for 2021-22, average reductions were 6.4%.

Obviously, it pays to grieve (and we sincerely hope that you’ll let Maidenbaum handle your 2023/24 Nassau County property tax grievance).

P.S. August 10th Is an Important Tax Deadline

While the temptation during these warm wonderful summer months is to kick back, relax, and not think too much about property taxes, please don’t forget that August 10th is an important tax deadline. On that date, 2021 2nd half General Tax payments are due to the Receiver of Taxes. Payments after this date are subject to penalties, so don’t forget to pay your bill on time!