The Real Deal New York

Nassau lawmakers OK $100M to pay delayed property tax refunds

November 26, 2018 02:59PM

Nassau County legislators approved a request by County Executive Laura Curran to borrow more than $100 million to pay down a $360 million backlog in property tax refunds, Newsday reported. Curran wants another $200 million in 2019 because that debt has piled up in recent years and accrued interest. “There are many businesses, many commercial entities, many small businesses that have been owed this money,” Presiding Officer Richard Nicolello of New Hyde Park told the outlet. “We need to pay back the refunds of those that are owed these monies.” Legislators also approved spending $200,000 to notify residents about the potential impact on reassessment of tax bills. [Newsday]