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A new report out this week in Bloomberg highlights just how heavy the property tax burden is on New Yorkers, especially compared to taxpayers in the rest of the country.
According to the report, three of the top five highest average property tax bills from 2017 were in the New York City suburbs, with Westchester’s average tax bill of $17,179 ranking the highest in the nation.
Rockland County came in at number two on the list, with homeowners paying an average of $12,924 last year.
Nassau County, with an average home value of $606,091 and an average tax bill of $11,415, rounded out the top five nationally.
As The Real Deal reported, the recently enacted FY2018-19 state budget “created two loopholes designed to allow taxpayers to convert property tax payments into charitable donations and then writing them off, effectively reducing the burden. It’s unclear if the Internal Revenue Service will permit the practice.”