Earlier this week, the New York State Court of Appeals affirmed the Appellate Division, Second Department’s decision annulling Nassau County’s attempt to repeal the County Guaranty through its enactment of Local Law 18.  As the highest court in the State, the Court of Appeals has closed the book on Local Law 18 and resurrected the County Guaranty, which obligates the County to pay all tax refunds that result from erroneous assessments made by the County’s tax assessors.  Unless the New York State Legislature repeals the County Guaranty, there is no need for you to budget for and fund your tax certiorari reserve funds. 

Please contact us if you have any questions about this decision and how it affects you.   

THIS MEMORANDUM IS MEANT TO ASSIST IN GENERAL UNDERSTANDING OF THE CURRENT LAW.  IT IS NOT TO BE REGARDED AS LEGAL ADVICE.  THOSE WITH PARTICULAR QUESTIONS SHOULD SEEK THE ADVICE OF COUNSEL.

© Lamb & Barnosky, LLP 2014