Friday, January 15, 2010

Question on Nassau County Property Taxes

Hi Mark, I read your article on property taxes.
So here is a question. Lets assume the budget is the same as the past year and the town/county/school does not have to raise taxes. we also need to assume the level of assessment remains the same.Lets say my homes market value goes down and therefor the assessed value goes down.

In this situation my tax bill would go down correct?
But if my tax bill goes down then the county will need more money to offset what they just lost on me.
How do they make up for this loss?

There seems to be a missing unexplained link to this equation.
What is your take on this
David M

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