Thursday, October 5, 2017
Nassau County School Tax Increase
The Nassau County school tax rates, as of October 1, 2017, increased an average of 5% for residences. A typical $10,000 school tax bill from last year will be $10,500 this year. The Nassau school tax rates for commercial properties had a big increase last year, averaging 11%. This year, another 5% increase on average is expected. Therefore, a typical $25,000 commercial tax bill from last year will be $26,250 this year.
The tax rate increases are due, in part, because school budgets increased and many residential and commercial properties received assessment reductions. Having less total assessments in the school district causes the tax rate to increase to meet the budget.
The reason for the substantial commercial tax rate increase is in great measure due to the now 2 year old Disputed Assessment Fund (DAF). Every commercial property received the increase and those properties that protested have part of their taxes set aside for possible refunds.
The expectation is that the general taxes will increase at least the same in January.