Hurricane Sandy Tax Relief

NY State passed legislation to provide property tax relief to New York City property owners that had property damage as a result of Hurricane Sandy. Starting with this tax year (2015/16), owners that rebuild or repair Hurricane Sandy damage may qualify for an adjustment to their property values. The legislation caps how much a property’s Assessed Value can be increased due to improvements made to fix a home that was damaged in the storm. This means that the Assessed Value for a property is no higher than it would have been had the storm not occurred, unless the property is built larger.
The new Assessed Value will be the base for future values going forward.

View your property values here.

For more information Contact Us.