Council Member Joseph Borelli (R – South Shore), in partnership with the Department of Finance’s Office of the Taxpayer Advocate, will be hosting a Tax Day presentation event on Thursday, January 25th from 6-8PM in the Lobby at Monsignor Farrell High School (2900 Amboy Road SI, NY 10306).
Have A Tax Problem You Can’t Resolve?
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In a letter written to New York City Mayor Bill de Blasio, Council Member Joseph C. Borelli (R – South Shore) and Minority Leader Steven Matteo (R – Mid Island) addressed three major concerns they and their constituents have regarding the overall fairness of property tax assessments on Class One properties throughout the city. This letter is the result of months of extensive research by the council members, which had uncovered gross inequities in the assessment of properties in borough to borough comparisons, which is an effect of the city inaccurately assessing Class One properties for decades by using a formula based on statistical data, instead of an actual in-person assessment by a qualified assessor, as mandated by state law.
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Council Member Joseph Borelli and Minority Leader Steven Matteo are today responding to the Independent Budget Office’s (IBO) report on Class 1 property tax equity, as a result of a request by the council members to look into a potential disparity. The Council Members disagree with the IBO on the following points:
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The Department of Finance (NYC DOF) will be reminding homeowners who receive the Senior Citizen Homeowner’s Exemption (SCHE) or Disabled Homeowner’s Exemption (DHE) to renew their property tax exemptions before the deadline on March 15, 2017. The reductions received by eligible applicants range from 5% to 50% of the homeowner’s total assessed property value, representing substantial savings to senior and disabled homeowners.
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