If you own commercial property, your new October school tax bill probably has a lower tax then last year because the Disputed Assessment Fund (DAF) reduced the taxes payable. Everybody thought the DAF was to be an additional tax to build up a refund bucket. However, the Disputed Assessment Fund charge was a reduction on the tax bills. The Assessment Department has not explained why a charge resulted in reducing the tax payable. What will happen on the January 2017 general tax bill is anybody’s guess. As a Tax Certiorari lawyer who files for commercial clients, I am mindful of real estate taxes. This unexpected decrease in school taxes might be welcome in the short run but I am concerned that there will be a large increase in commercial property taxes in the coming year. I will continue to reach out for information on the DAF taxes. Of course, the school taxes increased for Nassau residential properties.
No comments:
Post a Comment