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yes the change will be your value goes down now but the amount we pay in taxes goes up so we will be paying the same or more now but as soon as property values go up guess what our tax rates are going to go thru the roof. More smoke and mirrors ladies and gentleman.
yes the change will be your value goes down now but the amount we pay in taxes goes up so we will be paying the same or more now but as soon as property values go up guess what our tax rates are going to go thru the roof. More smoke and mirrors ladies and gentleman.
Not entirely true. When the values soared from 02-06, and the assessment went up with it, the tax rates actually dropped (as far as Nassau County goes). Despite the sharp increase in values, the county taxes actually remained pretty much stagnant. Of course that wasn't exactly the case with some of the towns (especially Hempstead and Oyster Bay) and the school districts, in which the taxes went up in those cases.
Its not the assessment that raises or decreases taxes. It is what the particular jurisdiction decides to do with taxes. Assessment basically states who will pay what, but isn't the determining factor on whether or not your taxes go up.
Not entirely true. When the values soared from 02-06, and the assessment went up with it, the tax rates actually dropped (as far as Nassau County goes). Despite the sharp increase in values, the county taxes actually remained pretty much stagnant. Of course that wasn't exactly the case with some of the towns (especially Hempstead and Oyster Bay) and the school districts, in which the taxes went up in those cases.
Its not the assessment that raises or decreases taxes. It is what the particular jurisdiction decides to do with taxes. Assessment basically states who will pay what, but isn't the determining factor on whether or not your taxes go up.
The county has come right out and said, if assessed values decrease (which they have) they will just raise the tax rates. Taxes are NOT going down - ever. They need the money to pay for all the crapola they agreed to pay for. This is straight from the horse's mouth. There is no way around it. Get used to it. In another 10 years there probably won't be a person in Nassau paying less than $15K in taxes no matter where they live. There probably aren't many paying less than $10K now.
Smash is correct. the county portion of the tax bill is both very small and hasn't been raised much at all.
I can't stand the newspapers touting that he is going to fix the assessment system. People read this as lower taxes. the assessment system has nothing to do with lowering taxes, all it does is distribute who pays the taxes. If you cut everyone's values in half, your tax bill will still be the same.
The county has come right out and said, if assessed values decrease (which they have) they will just raise the tax rates.
It's a mechanical calculation: the budget for a specific taxing district divided by the total assessed value in that taxing district yields the tax rate applied to property within that taxing district.
In other parts of the country, people vote on the tax rate. So, in these other jurisdictions, a lower assessed value yields a lower property tax until such time as a higher tax rate is approved by the voters.
The county has come right out and said, if assessed values decrease (which they have) they will just raise the tax rates. Taxes are NOT going down - ever. They need the money to pay for all the crapola they agreed to pay for. This is straight from the horse's mouth. There is no way around it. Get used to it. In another 10 years there probably won't be a person in Nassau paying less than $15K in taxes no matter where they live. There probably aren't many paying less than $10K now.
I think you are in part making my point for me, just saying it in a different way Whether your assessed value goes up or down, it is not going to have an impact on your taxes, unless it differs from the averaged change in assessed value.
For example if the values have gone down, but the county believes it needs the same tax revenue, your assessed value will go down, but the tax rate will go up. However, you will basically be paying the same amount of taxes. It is the same philosophy when values are increasing. If the county says it needs to collect the same tax revenue your assessed value will increase, but your taxes actually will not since the rates will actually drop. Now as far as assessment goes, when the county is holding the line on taxes (basically collecting the same as before) you will have some people whose taxes increase slightly, and others who decrease slightly, and it winds up coming out even as the county collects the same tax revenue, regardless if the values increase or decrease. Now of course, if the county (or whatever the jurisdiction) decides it needs to increase revenues then you will likely see your taxes increase regardless what happens with the value. Also as has been mentioned when you break out the county portion of the bill (which makes up 1/6 of your overall tax bill) 2/3 of it goes to the cops, and you are basically left with very little to cut (which makes some of Mangano's claims quite puzzling).
If anyone cares... the 2010-2011 tax numbers are now available on mynassauproperty.com.
My taxes went down about $250 and the STAR went up $99. So i had a net drop in my taxes of about $345... give or take.
I know this had nothing to do with the county executive, but i figured i'd point it out that they could lower taxes if they had to (although the numbers some people want to see the taxes lowered to are definitely not attainable).
In other parts of the country, people vote on the tax rate. So, in these other jurisdictions, a lower assessed value yields a lower property tax until such time as a higher tax rate is approved by the voters.
Unless something like this happens, anything Mangano can do is just a bait-and-switch like everyone else mentioned....and as Smash255 pointed out, the "County" portion of the taxes themselves are just about as minuscule as they could be already.
Maybe he knows something we don't? I guess we'll see....
woo hoo! my county taxes went down 40 bucks this year! yessssssssssss!
It's Miller time!
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