April 20, 2011
Ford and Mangano Reform Broken Assessment System
Legislator Denise Ford recently joined with County Executive Ed Mangano to announce an overhaul of the property tax assessment system. Both Ford and Mangano fulfilled promises to reform the previous system, which cost the County $100-250 million annually.
“Residents are entitled to an accurate assessment of their property and a system they can trust,” said Ford. “And the County is entitled to a system that’s not going to cost a quarter of a billion dollars.”
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.