Real Estate

Nassau County Executive Laura Curran Proposes $70M Property Tax Cut

Laura Curran (Getty)

Seven weeks ahead of election day, Nassau County Executive Laura Curran is offering voters a deal.

As part of a $3.5 billion county budget for next year, Curran has proposed a $70 million property tax reduction, according to Newsday. For a property assessed at $500,000, the reduction would save the average homeowner around $140 per year.

It’s the first time that Curran, a Democrat, has proposed a property tax cut since assuming office in 2018.

Property taxes have been a hot button issue in Nassau County since Curran ordered the first countywide property value reassessment in nearly a decade, leading to dramatic increases for some homeowners.

As a result, nearly 221,000 property owners challenged their assessments this year — 22 times the number of challenges seen in a typical year — and nearly half received a reduction.

“We’re in this position now where we can actually give relief to taxpayers,” Curran told Newsday, citing lawmakers’ decision to refinance $1.1 billion in county debt, which has generated nearly $150 million in annual savings. “It’s really a comprehensive plan, a strategic plan where we can give relief and keep our county finances sound.”

The county also received $103 million in federal pandemic aid last year, Newsday reported, and will receive a further $385 million from the American Rescue Plan Act.

[Newsday] — Dennis Lynch


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