Many Manhasset residents have received a check last week from the New York State Department of Taxation and Finance. This check was part of a two year tax relief program by New York State. The program compensates homeowners whose school district passed a budget under the 2percent cap and reimburses qualifying New York State homeowners for increases in local property taxes on their primary residences. In May, Manhasset Public Schools passed a budget with a tax levy cap at 1.84 percent and qualified residents of the area this break.
To have been eligible to receive this 2014 tax credit, The house must be your primary residence, registered for the STAR property tax exemption and have a total household income of $500,000 or less.
The freeze credit was the greater of: the actual increase in the homeowner’s tax bill, or the previous year’s tax bill multiplied by an inflation factor (the lesser of 2 percent for inflation). For 2014, the inflation factor for school districts is 1.46 percent.
Homeowners whose tax bills went down, stayed the same, or increased less than the inflation factor received a credit equal to the previous year’s tax bill multiplied by the inflation factor. To estimate your credit, multiply your 2013 school tax bill by 1.5 percent.
Manhasset residents will go to the poles on Wednesday, Dec. 3, to cast their ballots for or against a $19.9M bond for long term facilities plan. The proposal which can be found online at www.manhassetpress.com or the school website takes into account the changing dynamics of Manhasset school district facilities which constantly need to be renovated or updated due to the age of the infrastructure to create an efficient and workable classrooms as well as state of the art classrooms. Changes in the region include the new construction being built in North Hills as well as the turnover in the existing residential area and migration of student body from private to public schooling.
Definite construction sites affecting the enrollment is at the former Inisifada site (a former retreat with no impact on the district now slated for 51 grand homes guaranteed to have school-age children) and the three homes just outside of Strathmore Vanderbilt which are within the Manhasset Public School district lines.
Residents of Manhasset are urged to vote.
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