April 22, 2010
Legislator Rose Marie Walker recently joined with County Executive Ed Mangano to announce an overhaul of the property tax assessment system. Both Walker and Mangano fulfilled promises to reform the previous system, which cost the County $100-250 million annually.
“I am pleased to announce that the broken assessment system that the previous administration allowed to drain over $100 million annually from this County is being reformed,” said Walker. “The previous system created unnecessary waste and cost money that was unnecessary to spend.”
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.