April 22, 2010
Kopel and Mangano Reform Broken Assessment System
Legislator Howard Kopel recently joined with County Executive Ed Mangano to announce an overhaul of the property tax assessment system. Both Kopel and Mangano fulfilled promises to reform the previous system, which cost the County $100-250 million annually.
“The new assessment system proposed by County Executive Mangano will provide businesses an opportunity to correct their taxes before they are forced to overpay,” said Kopel. “I’m pleased the tax assessment issue is beginning to be addressed.”
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.