Despite being just one of the entities that collects property taxes, Nassau County is responsible to pay out 100% of tax refunds. Left unchecked, this system has led to $2 billion in debt to Nassau County. I am pleased to announce two reforms that will eliminate debt.
1) Commercial Reform: The County has created an escrow account collected from commercial taxpayers to pay refunds without accruing debt.
2) Residential Reform: The County now settles resident grievances before tax bill goes out eliminating overpayment and refund debt. Residents pay the correct taxes and don’t have to wait for a refund.
These reforms will save taxpayers $100 million in new liability each year.
