|Hurricane Sandy Update: On May 28, 2013, Mayor Bloomberg and Commissioner Frankel announced revised Market Values for more than 88,000 properties affected by Hurricane Sandy. To learn more, read the Press Release. The new values for affected properties can be viewed on the Notice of Property Value page or by entering an affected property’s borough, block, and lot here.|
Information for property owners affected by Hurricane Sandy
We understand that your property may have had damage as a result of Hurricane Sandy. This page will help you figure out what you can do if your property was severely damaged.
How Finance is helping property owners affected by Hurricane Sandy
- As we do every year, we mailed annual Notices of Property Value in January as required by NY State law. The values on these notices are tentative and our assessments of Sandy damage are ongoing. These values are subject to change until they are finalized in May.
- We are inspecting and reviewing all properties that submit Sandy Damage Forms to us.
- We are inspecting and reviewing properties in areas that were seriously impacted by the storm.
- We are adjusting property values for properties severely damaged in the storm.
- Along with the Mayor and NYC Council, we are seeking NY State Legislation that will rebate a portion of property taxes for properties that were tagged red by the NYC Department of Buildings.
- Along with the Mayor and NYC Council, we delayed property tax due dates for red-tagged properties from January 1 to April 1.
What does severely damaged mean?
It means that the Department of Buildings determined that your property is unsafe to occupy or was completely demolished as a result of the storm. Severe damage includes:
- Collapse or partial collapse of the building;
- Collapse or partial collapse of the building foundation;
- The building is noticeably leaning;
- Walls are severely buckling;
- Roof has collapsed;
- Severe water damage throughout the building;
- Damage to transformers, A/C, boilers and elevators that make the building unsafe to inhabit.
Hurricane Sandy damage and your property value
Each year, we mail you a Notice of Property Value (NOPV) in January that reflects the status of your property as of January 5th of the same year. Hurricane Sandy destroyed your property or resulted in severe exterior damage, the notice you received in January should take into account your property’s hurricane damage. But not all severe damage may be reflected on your NOPV.
Before we mailed out the January notices, we adjusted them to reflect damage that we were able to see from aerial photographs. If your property was tagged red by the Department of Buildings (DOB), we have been out to visit your property since we mailed your notice in January. We are also inspecting all areas that were seriously impacted by the storm based on data from DOB and information submitted directly to us. But if you feel that your property’s severe hurricane damage is not reflected on your NOPV, you should report it as soon as you can to Finance to make sure that we know to inspect it.
We will be adjusting property values where appropriate before we finalize them in May 2013. The May values will be used along with the tax rate and other factors to calculate your July 2013 Property Tax Bill.
Important Note: If you disagree with the Assessed Value on your January 2013 NOPV, you needed to file an appeal with the NYC Tax Commission using the forms available on their website or by contacting 311. The deadline to file with the Tax Commission was March 1 for Class 2 and 4 properties and March 15 for Class 1 properties.It is important to remember that asking for a Finance Review of your property damage is not a substitute for appealing your Assessed Value with the Tax Commission.
Potential additional relief for certain property owners
The Mayor, along with the City Council, announced at his press conference on November 29, 2012, that we will seek State legislation allowing the City to rebate a portion of the property taxes paid by red-tagged properties during this tax year (July 1, 2012 – June 30, 2013). Please check back for more information.
Delayed property tax due dates for certain properties with Hurricane Sandy damage
On November 29, 2012, the Mayor, Department of Finance, and City Council announced that certain residential properties that had severe property damage due to Hurricane Sandy will have three extra months to pay their property taxes. These properties are ones that the Department of Buildings determined were uninhabitable or totally demolished after the storm. They indicated this by giving these properties a red tag. For the red tagged properties, the taxes that would have been due on January 1, 2013 will now be due on April 1, 2013. Read the Press Release. The City Council passed legislation allowing for the delayed due date on December 10, 2012.
Hurricane Sandy Tax Relief Info Sheet (English, Spanish, Chinese and Russian)
Report Hurricane Sandy damage to us