Friday, October 14, 2022

2022/23 School Tax Bill Information

 

It's that time of the year again — the school tax bills for Nassau County are coming into effect. Use this guide to make sense of the numbers and figures on your Nassau County school tax bill and learn how it's calculated. And don't hesitate to contact our office if you have any additional questions or would like to discuss your reduction options with one of our professionals!
 

Understanding New York Property Taxes

Most taxpayers in New York State receive two tax bills each year: one from the county and one from the school district. The county taxes are figured by multiplying a tax rate by the assessed value of your home, which is determined by its market value. The school taxes are calculated as a percentage of that assessed value.

How Does Your Property Value Affect Your Taxes?

The school tax bill is estimated based on the value of your property and the assessed value of all properties in Nassau County. The more valuable your home, the higher your taxes will be, but if you have a high-value home, it doesn't necessarily mean that you will have to pay a lot more in taxes.
 

What Is The School Tax Bill?

The school tax bill is a type of property tax that goes to the school district in your county. It helps fund public schools, community colleges, libraries, and other county agencies. Your school tax bill depends on how much you owe and what type of home you live in — the higher your income and the more expensive your home, the more you will pay in taxes.

What Are The Possible Exemptions?

Although Nassau County's property taxes are some of the highest in the nation, there are many exemptions for residents to help reduce this burden. The following exemptions are available to Nassau County residents:
  • Senior Citizen Exemption: Senior citizens aged 65 or older whose annual income is less than $40,000 receive a tax exemption from the first $40,000 of their yearly income.
  • Veteran's Exemption: Any United States veterans living in Nassau County and having been honorably discharged from their service are eligible for a property tax exemption.
  • Volunteer Firefighters and Ambulance Workers Exemption: Both volunteer firefighters and ambulance workers can take advantage of this property exemption as long as they have volunteered for five years at least.
  • Limited Income and Disabilities Exemption: As long as they meet the criteria, residents in Nassau County who are on limited incomes or suffer from disabilities may be eligible for property tax exemption.

When Will This Take Effect?

Make sure you're keeping in mind the Nassau County tax schedule for this year! On October 1st, the county issued the first half of school tax bills. After this, the 2022/23 first half of school tax payments will be due by November 10th, 2022, to the receiver of taxes. Make sure you pay these on time, as you may be subject to penalties due to lateness!

By April 1st, 2022, the second half of the 2022/23 school tax bill will be issued and due by May 10th. Keep an eye out for local announcements from your county on any updates for these.

And if these tax burdens become too much for you, our team is here to help. P.T.R.C., Inc. has been a leader in property tax reduction for years, and we're ready to help lower your Nassau County tax bills!
 

Ready to Save Money?

You count on one of the leaders in property tax challenges! For decades, Property Tax Reduction Consultants on Long Island has strived to minimize clients’ property tax assessment with personalized service. Customer service is our number one priority.

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