Abinanti Proposes Phase-In to Mitigate Impact of New Higher Greenburgh Tax Assessments.
June 9, 2024
Former Assembly member Tom Abinanti is proposing a strategy that he helped implement with State legislation in the past to assist those facing financial hardship as a result of new Greenburgh tax assessments.
Due to Greenburgh’s law requiring regular property value reassessments, many parts of the Town are being hit with significant unexpected property tax increases.
In response to a similar unexpected high tax increase in 2016, Assembly member Abinanti passed State legislation authorizing the Town Board to phase in the increase tax.
The 2016 law (A10551A) permitted the Town to adopt a two-year phase-in of assessment increases for residential properties. The Town was permitted to impose the new assessment two-thirds (2/3) in the first year and the second one-third (1/3) in the second year.
“Periodic re-adjustment of property values keeps Town taxes fair but large tax increases due to rising property values can create some significant financial hardships,” said Abinanti “Allowing a two year phase-in will give residents a chance to adjust and help mitigate some of the impacts.”
For more information:
Tom Abinanti 914-328-9000
Click to Download a PDF Press Release –