Village Taxes
| 2023 Tax Roll | 2024 Final Assessment Roll | Assessed Valuation |
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Annual Budget 2023-24 |
Tax Grievance Form | Exemptions |
Adopted:
LOCAL LAW NO. 1 OF 2020
LOCAL LAW authorizing a property tax levy in excess of the limit
established in General Municipal Law ยง3-c
The Village tax levy is based on the amount of money needed to fund services provided by the village government. Anticipated income from state aid, license fees, interest, building permits, fines, etc., and a surplus amount approved by the board is subtracted from the approved budget leaving the amount to be raised by the real estate property tax. The annual tax rate varies year to year on each $1000 of assessed valuation. The tax rate is arrived at by first establishing an annual budget. All costs of running the Village for the coming year are included, except for the Golf Course and sanitary sewers, both of which are separately funded. The budget must be approved by the Village Board by the first Monday in May after a public hearing in April. Once adopted, the budget must be followed, unless amended by a majority vote of the Board of Trustees at an announced public meeting.
Taxes are billed June 1 and must be paid by July 1. Late penalties begin to be assessed on the second business day in July.
Your tax dollar goes to pay for garbage collection, police protection, public works, street lighting, building maintenance, parks and recreation, building inspection, debt, fringe benefits, insurance, administration, court costs, etc.
Tax CollectionVillage tax bills are forwarded to residents or tax collection agencies on the last business day in May of each year. The bill covers the fiscal year beginning June 1 and ending May 31. Taxes are payable during the Month of June through July 1 without interest. Thereafter a 5% interest and interest charge is added for the first month or fraction thereof on taxes that are outstanding, and an additional 1% is added each additional month or fraction thereof. This charge for interest is mandated by the State of New York under the Real Property Tax Law.
Assessed ValuationThe Village of Lake Success is an independent assessing unit. Village assessments have no relationship to Nassau County assessments and are not used for school, town or county taxes. The Village has its own appointed Assessor. In an effort to ensure fair and equitable assessments, in 2008 the Village completed a village wide revaluation project. Assessments are reviewed on an annual basis to reflect changes in the market value.
Grievance Day is the third Tuesday in February each year. The Board of Assessment Review which includes members of the Board of Trustees sits at the Village Hall, 318 Lakeville Road, Lake Success. The purpose of the Board of Assessment Review (BAR) is to allow the residents in an informal setting an opportunity to review their assessments. Complainants must file with the Village Clerk on or before the third Tuesday in February, a statement specifying the respect in which the assessment is incorrect. If not resolved during the grievance period, complainants have the right to proceed to a small claims hearing. Small claims filings must be made within 30 days from the adoption of the final Assessment Roll (April 1). Click here for a Tax Grievance Form.
ExemptionsAll applications for exemptions must be filed specifically with the Village in addition to any filing with Nassau County.
Senior CitizensOn October 18, 1983, Local Law #3-1982 was passed by the Village Board of Trustees granting partial exemption from real property taxation for real property owned by certain persons with limited income who are 65 years of age or older. The total maximum income of property owner or owners (jointly) is no more than $34,500 subject to change yearly in order to qualify. Other qualifications are that the property be owned by the applicant for at least 12 consecutive months, used for residential purposes only, be the legal residence of the applicant, and be occupied in whole or in part by the applicant.
Applications may be obtained from the Village Office and must be submitted annually to the Village Assessor not later than December 31 to be considered for Taxable Status Day, January 1.
VeteransReal Property Tax Law provides a limited exemption from real property taxes for real property owned by persons who rendered military service to the United States during defined periods of war.
Applications may be obtained from the Village Office and must be submitted to the Village Assessor not later than December 31 to be considered for Taxable Status Day, January 1.