A tax break that was recently approved for a company looking to move to Valley Stream has homeowners in the area worrying about what it will mean for their taxes.

Just days ago, some residents had to pay hundreds of dollars more in school taxes after the Hempstead Industrial Development Agency approved tax breaks for the Green Acres mall. The ensuing controversy led to the resignation of six of the agency's seven board members.

Now, some residents received a letter in the mail warning that another tax break deal, this time approved by the Nassau County IDA, could impact their tax bill.

The letter from the superintendent and Board of Education for Valley Stream School District 13 says that a tax break for a business in the area "may be redistributed" to homeowners. "We are very concerned about the introduction of PILOT agreements and the fiscal impact on our local taxpayers," the letter reads.

News 12 contacted the Nassau County IDA and was told the PILOT program was approved for a company called Safeguard Self Storage, which is moving to a former Hyundai dealership location on West Merrick Road.

In a statement, Nassau IDA Director Joseph Kearney said residents' taxes will not go up. He said that the property sitting vacant has been bringing in less taxes and says, "Residents will benefit from an estimated $2.4 million in additional payments from this property." He added, "These funds will clearly help homeowners offset any tax increases placed on them by schools and local municipalities."

News 12 contacted the superintendent of Valley Stream District 13, who said she sent the letter to residents in an effort to alert the community after many were outraged over the Green Acres deal. She added that it was hard for her to get information from the IDA.

But residents and local officials say they are still worried that IDA boards can potentially have direct impacts on their taxes. Last week, state Sen. Todd Kaminsky told News 12 that he believes IDAs are too nebulous. "IDA's are state-regulated and clearly they're not regulated enough," he said.

Some residents say they agree. "It's like you have no recourse," says one resident.