New Law Provides Tax Relief for Properties Damaged by Superstorm Sandy

Assemblyman David Buchwald (D-Westchester) announced that the Superstorm Sandy Assessment Relief Act, which he sponsored, was signed into law by Governor Cuomo. The act will allow for adjustments on tax bills for properties destroyed or damaged by Superstorm Sandy.

“This legislation provides much-needed property tax relief to families in Westchester County that are still trying to recover from the effects of Superstorm Sandy and rebuild their homes and lives,” said Assemblyman Buchwald. “This new law is about providing fairness.”

The Superstorm Sandy Assessment Relief Act allows municipalities to lower the 2012-13 tax assessment of properties that lost a certain percentage of their structural value due to the storm. The program can be adopted by counties, towns, cities, villages and school districts in the affected areas.

This law is necessary because within the tax law a deadline exists for local governments to finalize assessments and determine tax bills. This deadline had since expired, prohibiting local governments from altering assessments. The Superstorm Sandy Assessment Relief Act changes this to give local governments in storm-affected areas the ability to lower tax assessments so that they aren’t based on pre-Sandy values.

“Making sure we enacted this legislation was imperative for the families in New York that have already lost so much as a result of Superstorm Sandy,” said Assemblyman Buchwald.