As home sale prices continue to rise across Long Island, notably in Nassau County, and with the ongoing lack of inventory fueling that upward movement, homeowners have been pondering what types of impact this trend have—in the short term and in the long term—on factors from property values to property taxes. While we don’t have a crystal ball, we do have the experts at Maidenbaum Tax to consult.
As for the potential impact on the tax grievance landscape, “From where we stand – all aspects considered – we do not see this as a major roadblock for us, going forward,” Property Tax Supervisor John P. Frascella of Maidenbaum Property Tax Reduction Group, LLC. “Having done this for over 30 years now, we know the ins and outs of this business. We have seen many curveballs in the past and, thankfully, we very rarely swing and miss. We pride ourselves on developing creative and effective case strategies here at Maidenbaum.”
Of course, real estate prices aren’t the only thing going up. Concerns over rising inflation are everywhere. So what, if any, might be the property tax implications of rising inflation?
“If everything we pay for—goods, services, bills, gas, etc.—continues to inflate at an alarming rate, that only reinforces the necessity of a Nassau County property tax grievance,” Frascella says. “If you are losing money somewhere, you should gain it back somewhere else, right?
“We can’t speak to general financial analysis of inflation, but we do know that everyone should be trying to save in every way possible,” he continues. “Property taxes are already way too high in our County. Don’t miss the opportunity to push back with the help of the best in the business. Grievance filing deadline is now May 2, 2022.”
Learn more about property tax grievances and other property tax issues at maidenbaumtax.com.