April 20, 2010
Dunne and Mangano Reform Broken Assessment System
Legislator Dennis Dunne recently joined with County Executive Ed Mangano to announce an overhaul to the property tax assessment system. Both Dunne and Mangano fulfilled promises to reform the previous system, which cost the County $100-250 million annually.
“The new cyclical assessment system represents a real change for our County,” said Dunne. “In fixing the broken assessment system, we can save the County millions of 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.