A homeowner purchased their home in May of 2008 for $325,000. At the time of her purchase, the town was assessing her at $430,000. Based on her purchase price, she could have reduced her tax bill by $2275 for the upcoming 2009/2010 period. This savings would have carried forward to future years.
State Deficit Troubles Will Impact Local School Taxes
The recent troubles in Albany with the state budget deficit are hitting Long Island school districts and local area residents hard. Homeowners in Half Hollow Hills recently received notices that their school taxes could be going up as much as 10%.