Property Tax Bills in Nassau County Spell Trouble for Commercial and Multifamily Properties

Halloween may be spooky time of year for some, but in Nassau County October marks the scariest time of year for all – the release of School District Tax Bills. Unlike a trick-or-treater, the Tax Receiver doesn’t stop by to take a little candy, skipping away to the next house. Unfortunately, the envelope containing the school tax bill is typically packed with all tricks and no treats.

In Nassau County, school tax bills represent 65+% of the average annual real estate tax responsibility for each property in Nassau County. Since the County’s reassessment in 2020, property tax rates have been generally kept in check.

For the current 2024/25 school tax year, despite a general decrease in tax rates for class one (single family) properties due to the phase out of the County’s Taxpayer Protection Plan (“TPP”), 35% of the school districts in Nassau County have increased property tax rates by 5%-12% for apartments, co-ops and high-rise condos (class 2 properties).

*See my Partner Willets Meyer’s recent article on the burn off of the TPP here: The Impact of the Taxpayer Protection Program on Nassau County Homeowners – Farrell Fritz

Even more surprising, about 34% of the County’s school districts raised the class 4 tax rate for commercial properties by 4%-9%.

The only recourse that a taxpayer has if they are spooked by an increase in property taxes is to file a property tax appeal with the local assessing body. In Nassau County, taxpayers may begin filing administrative appeals with the Assessment Review Commission after January 1. As the appeal requires legal and real estate expertise, it behooves taxpayers to consult with an attorney who specializes in property tax appeals.