April 20, 2010
Alternate Deputy Presiding Officer Norma Gonsalves recently joined with County Executive Ed Mangano to announce an overhaul to the property tax assessment system. Both Gonsalves and Mangano fulfilled promises to reform the previous system, which cost the County $100-250 million annually.
“The proposed change to the tax assessment system could save the County tens of millions of dollars,” said Gonsalves. “We cannot sit by and allow a broken and outdated system sap money away from the County and the taxpayers.”
The plan for the new tax assessment system freezes property assessments for four years. However, homeowners can still grieve their assessments yearly to take advantage of reductions and account for improvements. The new system will bring predictability and stability to household taxes, and allow the county to reduce its debt from household assessments.