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Huntington Affairs: LIPA Seeks Tax Reduction

There can be no doubt that anyone who pays taxes would like nothing more than to see them reduced. In 2010, the Long Island Power Authority (LIPA) filed a suit against the Town of Huntington seeking a reduction on the taxes it pays to the Town and the Northport Schools. In the spring of 2013, an agreement was reached in Albany that would:

“eliminate any back taxes the Town owes to LIPA from the date the lawsuit was filed in 2010 to present (currently estimated at $170 million and expected to grow as high as $250 million by October); maintain LIPA’s current $75 million tax payment for at least the next two years; then provide for a gradual reduction of tax payments by LIPA over a 10-year period. This phased-in strategy would resolve the lawsuit, protect the Town from further litigation, significantly limit the financial exposure to taxpayers, and allow the affected entities time to develop a long term strategy that addresses the changes in LIPA tax revenue.” (Source: website of State Sen. John Flanagan.)

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