Tackling Nassau's tax refund crisis

GARDEN CITY - Of all the financial problems looming over Nassau County, its property tax refund burden is probably the largest and most difficult to fix.

Each year commercial and residential property owners file more than 60,000 tax certiorari applications that seek a reduction in taxes.

And over the past 20 years, the county has been stuck paying refunds totalling an estimated $750 million. Lacking the cash to pay up front, the county issues bonds to cover its mushrooming obligations.

Although a comprehensive reassessment program could cut new overassessment claims, there's been little movement to deal with the huge backlog since former County

Executive Thomas Gullota declared last year that he wouldn't seek reelection.

His successor, Tom Suozzi, has only been in office three weeks and he has yet to commit himself to a plan.

In the absence of a public initiative, Vince Polimeni, a prominent Nassau businessman, has stepped forward with an idea to reduce the financial tsunami about to break over the county.