The following is a press release from the offices of Councilman Mark Treyger:
Council Member Mark Treyger, Chairman of the Committee on Recovery and Resiliency, is pleased to announce the passage of City Council legislation he sponsored to provide relief from tax increases on properties that were damaged during Superstorm Sandy and subsequently rebuilt to its prior condition. As a result of today’s law, property owners will not be penalized with unfair tax increases simply for performing critical repair work to their homes.
The issue arose several months ago, when storm victims began being hit with increased property assessments and real estate taxes as a result of necessary repair work to repair damage caused by the storm. The impacted property owners facing higher tax bills included several residents of Sea Gate and Coney Island who contacted Council Member Treyger for assistance. He has since worked with Mayor de Blasio and his City Council colleagues including Speaker Melissa Mark-Viverito and Councilman Vincent Ignizio to have this legislation passed as quickly as possible. Thanks to today’s legislation, most property owners who had their 2014 fiscal year property assessment reduced from 2013 as a result of storm damage, but then increased for fiscal year 2015 due to repairs, are eligible for this partial abatement.
“Victims of Superstorm Sandy were being victimized all over again by unfair increases in their property tax bills. To make matters worse, this was happening at a time when many families’ budgets are stretched to the maximum and every dollar counts. To ask someone to pay higher taxes for necessary repair work is patently unfair and only adds insult to injury for these New Yorkers. I am pleased that Mayor de Blasio, Governor Cuomo, our State Legislature and the City Council recognized the urgent need to immediately address this issue and came to a solution that is fair for all sides,” said Council Member Treyger.
Homeowners whose fiscal year 2015 assessment exceeds the fiscal year 2013 assessment that reflected the property value prior to the storm are covered under this law. The abatement will appear on impacted homeowners’ July property tax bills. In cases where the repair work resulted in an increase in the building’s square footage, this law provides for a decrease that is proportional to the increase in the building’s size.
For more information on eligibility requirements, contact 311 or the NYC Department of Finance at nyc.gov/finance.