Media Contact: Randolph Yunker - (516) 571-2490

(Mineola, NY) In compliance with New York State Real Property Tax Law, Board of Assessors Chairman Harvey Levinson today announced that all Nassau County homeowners will be mailed a Property Tax Impact Disclosure Notice revealing their new assessed property values beginning Wednesday, November 3rd.

The impact disclosure notices will provide homeowners with an estimate of the fair market value of their properties, the "level of assessment" (the fraction of the full market value that is used to determine the assessed value), and a comparison of property tax obligations based on calculations utilizing the new assessed value with taxes billed in 2004-05. Assessor Levinson stated that the estimates provided in the notice show homeowners how the market value of their properties have increased and can affect their tax obligations based on 2004-05 budgets.

"The information provided in the notice does NOT consider future increases in municipal spending," Assessor Levinson emphasized. "A homeowner's actual tax liability is affected by a number of factors including changes in state aid, municipal and school budgets, and reductions or increases in the values of homes within their school districts. If the increase in the fair market value is consistent with increases in comparable home values in the school district, the new market value is unlikely to translate into any additional taxes unless municipal or school district budgets increase."

Assessor Levinson stated that the new tentative assessed values indicated on the tax impact notice will first be applied to calculate school tax obligations in October of 2006 and for town and county taxes in January of 2007. Given the continued yearly increases reflected in the adopted spending plans of school, municipal and special district districts, the actual tax obligation will likely be higher than the amount estimated on this year's tax impact notice.

"I understand that the assessment process is difficult to understand and that the property values are rising each year," stated Assessor Levinson. "In an attempt to alleviate some of the confusion, I will be enclosing a more reader friendly explanation of the Property Tax Impact Disclosure Notice along with the notice and will offer comprehensive information on the Department of Assessment Websites: www.mynassauproperty.com and www.nassaucountyny.gov/agencies/assessor/."

Any homeowner who disagrees with the new tentative assessment shown on the notice will be able to dispute their assessment by filing an Application for Correction of Property Tax Assessment during the formal grievance period from January 3rd through March 1st. The grievance form and a publication containing the procedures for contesting the assessment will be available starting January 3, 2005 at most public libraries throughout Nassau County and at the Department of Assessment located at 240 Old Country Road in Mineola. In addition, the grievance form may be downloaded from www.nassaucountyny.gov/agencies/arc/.

"While I am continuing to work to improve the accuracy of the property assessment roll and am striving to ensure that the values assigned to all properties are fair and equitable, I urge any homeowner who disagrees with the new assessed value to take advantage of the formal grievance process when it opens in January," concluded Assessor Levinson.