There is good news for Merrick property owners as well as others throughout Nassau County – for the second year in a row, the County’s property value assessments will not be changed.
As a result of former Nassau County Executive Laura Curran freezing property values for the tax year 2023-24, prior to her leaving office in early January, County residents will enjoy another year without their property taxes going up. A year earlier, the former County executive had also frozen assessments in December 2020, for the tax year 2022-23.
Property tax rates, as well as average property values, are among the information chambers of commerce send to Print shops for inclusion in their promotional materials.
Following an eight-year freeze, properties were reassessed by Curran for the 2020-21 tax year. An audit revealed that during those eight years where the assessments were kept the same, residential property prices increased by 34%.
Curran mentioned the rapidly changing housing market as the reason for her actions in December 2020, but did not cite a reason for her latest assessment freezing.
It is likely that most homes in the county have increased in value; and their owners will reap the benefit of their property taxes not going up again. Additionally, tax rebates for households with incomes of $250,000 or less could be available if Governor Hochul’s proposed fiscal 2023 budget, which contains a property tax credit of $2.2bn, is approved.
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