Nassau County has agreed to a tax cut settlement with the Long Island Power Authority, which could affect several other school districts on the island.
LIPA has been in a legal war over its tax bills since 2010 with Nassau, Island Park and North Shore schools. LIPA said it’s being overcharged based on the value of its power plants. A trial is set to start in several weeks and a loss in court could mean a loss of millions of dollars to schools.
Nassau County Executive Bruce Blakeman told Newsday that the county’s settlement will potentially save Nassau taxpayers billions of dollars.
The deal will cut LIPA’s tax bill by about half over the next five years. LIPA has made similar deals with other schools and municipalities in the past. The Nassau agreement must still be approved by the county Legislature.
