MINEOLA, NY—Nassau County Executive Laura Curran today released her 2019 no property tax hike budget. The $3.5 billion budget provides funding for a fully functioning Department of Assessment, public safety, special programs and NICE Bus. However, the outstanding tax certiorari debt, continues to hold Nassau County back from restoring true fiscal health.
“Nassau County is operating on a bare bones budget. I am holding each department to a tight fiscal discipline,” said Curran. “The balanced Fiscal Year 2019 County Budget submitted today does not include a property tax increase. It pays for the services we are delivering now with current revenue.”
“The single most important investment in the budget is the revitalization of the County’s Department of Assessment,” said Curran. “While it is going to take some time and a lot of hard work to clean up the mess I inherited, I am ready to do what it takes to get Nassau County on the right track. With 100 new staff hires, we will keep the assessment roll current every year.”
Curran’s proposed 2019 budget addresses the corruption of the assessment roll from the prior administration’s seven-year frozen tax roll. With the completion of a reassessment through the systematic review contracts, Nassau County will have an updated assessment roll. The budget funds public engagement to answer questions from property owners.
Further, this bare-bones budget features carefully-targeted new investments that will improve and expand what the County will deliver to residents and businesses in the upcoming year. The budget also makes clear that the enormous financial burden of prior year tax cert debt must be bonded and the debt service for $300M in bonding is included in this budget. In June 2018, the Nassau County Legislature did not approve a home rule vote which would have allowed NIFA to issue tax cert debt. Now the funding needed to erase the prior year’s tax cert debt must be issued by the County.
Some of the budget’s key points include:
“These and other plans will help us move forward and deliver the services and programs Nassau County residents have come to deserve and expect,” said Curran. “Fixing the corrupt assessment system is a critical move in restoring fiscal health to Nassau County. But now is not the time to ask the taxpayers for more money. That is why I have put forth a no property tax increase budget.”