New Law Provides Tax Relief for New York Sandy Victims - NBC New York

New Law Provides Tax Relief for New York Sandy Victims



    (Published Thursday, May 29, 2014)

    Gov. Cuomo signed legislation that gives property tax relief to victims of Sandy.

    Previously, if Sandy-related repairs increased the value of their homes, the homeowners were taxed at a higher rate.

    Some said they'd be forced to sell their homes due to the higher taxes.

    The law now provides an abatement for them.

    "To tax people on the changes to their home that they were forced to make because of a storm that was out of their control would literally add insult to injury," Cuomo said. "And that's not what this government is all about."

    The bill should save homeowners $4 million.

    It was proposed by Mayor de Blasio, who joined Cuomo at the bill signing ceremony Thursday on Staten Island.

    The legislation received bipartisan cheers from both City Council Speaker Melissa Mark-Viverito, a Democrat, and Council Minority Leader Vincent Ignizio, a Republican.

    The abatement will go into effect in time for July's property tax bills.

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