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You’ve got mail – States provide (surprise) property tax hike credits

MWE_Headshots_Thumbnail_RichardFeldmanIn recent weeks, the New York State Tax Department has been sending tax credit checks to mostly surprised New York homeowners. These checks cover increases in property taxes on taxpayer homes with values up to $500,000 in areas that have complied with the state’s recommended 2 percent property tax cap. MWE Senior Manager Richard Feldman, CPA, recently offered his insight to Long Island Business News about these surprise checks.

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“For people on Long Island, real estate taxes are one of the biggest complaints, because they are so high,” Feldman told the publication. “Although the state legislature doesn’t control it, they wanted to do something to help the real estate tax situation. Some people didn’t realize it was a check. It came in one of those envelopes they tear open. A lot of people probably thought it’s something that goes with tax information. People are questioning why they got the check. Once they find out it isn’t a mistake, no one complains about found money. The state hasn’t done a good job publicizing it this year. Maybe because it’s not an election year, the politicians haven’t been publicizing it too much. They want to go back to their constituents and say they did something to stop the rise in real estate taxes. You’ve got your increase back in your pocket.”  Read More>>

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