The end of Summer and onset of Fall brings many unpopular rituals each year. At the top of this list for most people would be the return of school and colder weather, but somewhere not much farther down the list for Long Islanders is the release of new property tax rates with inevitable increases for the upcoming year. Worse yet these tax rate increases are often the driving force behind higher tax bills later in the year. Property tax rates are set locally and incorporate annual budgets from schools, towns, water districts, garbage districts and many other smaller municipal entities.
On Long Island, property tax rates have a frightening ability to increase significantly each year. The natural assumption would be to blame higher municipal budgets for these tax rate increases, however budgets are only part of the problem since they are generally capped at 2% by New York's statewide property tax cap law. https://www.osc.ny.gov/local-government/property-tax-cap?redirect=legacy
How then do local tax rates consistently increase 4-6% annually? The biggest culprit in most jurisdictions is a stagnant tax roll that is besieged with assessment reductions and yet never properly updated due to political considerations to reflect changes in the market. Throw in Long Island's general aversion to allowing new development that would boost tax rolls and you have a situation ripe for tax increases each and every year.
The only way for taxpayers to protect themselves from this vicious circle of annual tax rate increases – make sure to consult a knowledgeable property tax attorney who can file annual challenges to keep the assessment on your property as low as possible.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
