Poll finds half of LI taxpayers expect refund

The number of area taxpayers receiving income tax refunds from Uncle Sam this year or not is nearly split, according to a poll released yesterday.

The Siena College Research Institute found 41 percent of Long Islanders and residents of New York City's other suburbs either have or expect to receive a refund on their federal income taxes, which were due Monday.

Forty-two percent said they did not expect a refund. Seventeen percent did not know or refused to answer, said pollster Don Levy.

Significantly more taxpayers in New York City and statewide either have or expect to get a federal refund: 55 percent and 52 percent, respectively. Those not receiving a refund: 35 percent and 37 percent, respectively.

The poll of 811 residents, conducted March 28-31, April 4-7 and April 10, has a margin of error of plus or minus 3.5 percentage points.

Refunds were averaging $3,070 as of last month, according to the most recent available data from the Internal Revenue Service.

Among refund holders in the suburbs, Siena found that 63 percent plan to use the money to pay bills while 25 percent or so will put it into a savings account for an emergency or for retirement.

In New York City and statewide, bill paying was an equally popular use of tax refunds. However, more people planned to save the money for an emergency.

On Long Island Monday, taxpayers who have received refunds said the money had already been spent.

"I bought a new dining room set," Angela Ramos, 36, a housewife from Amityville, said outside the Walmart store in East Farmingdale. "I decided to splurge. I've been waiting for one for years."

However, some bankers and financial advisers urged taxpayers to resist spending their tax windfall.

"We often think of a tax refund as an unexpected bonus, which makes it tempting to treat ourselves by spending it," said Mark Elliot, executive vice president for consumer banking at Capital One Bank. "But for many people, receiving a tax refund provides the opportunity to think about how to improve their financial health."

A separate nationwide survey by the bank found that 37 percent of taxpayers plan to spend all or part of this year's refund while 31 percent will save a portion. Nineteen percent will pay down debt, and 5 percent will save for retirement.

Of those planning to spend, 23 percent said the money would go to pay bills; 11 percent to new clothing and accessories; 6 percent, vacation, and 4 percent on an iPad, television or other electronics.