Mangano Plans to Reform and Repair Property Tax Assessment System

Nassau County Executive Ed Mangano unveiled the beginning phase of his plan to reform Nassau County's property tax assessment system at a press conference earlier today.
 
"If we do not address — and repair — the property assessment system as soon as possible, Nassau's finances will continue to worsen," Mangano said. "That scenario is not acceptable."
 
Mangano signed two executive orders upon taking office last week which should have an immediate affect on the assessment system. The plan addresses both residential and commercial properties and includes several initiatives including the formation of an Assessment Review Team (ART), the immediate reduction of interest rates for commercial settlements from four to three percent, a moratorium on the filing of new commercial cases for 120 days (except where there would be material prejudice to property owners), and improving communication between county agencies that have an impact on assessment.
 
"This system has seen virtually no improvement in decades," Mangano said. "Everything that can be done to alleviate Nassau County taxpayers of this enormous debt must be done."
 
Mangano also named Patrick Foye as ART Executive Director. Foye and the team comprised of residential and commercial property owners will analyze the assessment system and submit a report to the county executive by June 30. They will serve in a volunteer, unpaid capacity. "The county executive is taking decisive action with this plan," Foye said. "The team will meet the deadline set forth by Mr. Mangano for its report."

The county executive said his long-term plans include modifying assessment challenges from a yearly to a cyclical schedule, reviewing lower interest rates for judgments on assessment settlements and freezing the tax roll for 2010.

"Nassau is among the highest taxed counties in the nation, yet our system of property tax assessment is bringing Nassau County to its financial knees," Mangano said. "Errors have created a $1.2 billion debt for assessment errors alone and another $100 million of taxpayer money will be spent for past mistakes. There is zero time left. This has to be fixed now."