Richard Fromewick for Authors, “Nassau Debt and Speedy Tax Refunds” for Newsday

Publication Source: Newsday

The Nassau Interim Finance Authority's concerns about Nassau County's borrowing ['NIFA: Nassau borrowing a concern,' News, Oct. 17] refers to the $150 million required to pay down property tax refunds due county residents. But that number reflects just half of what the real liability is projected to be when all the settlements are paid.

The larger issue is the speed by which the payments to commercial and residential properties are made; the sooner the arrears are resolved, the faster the debt service disappears from the county books and slows the growth of interest due….