The Real Deal New York

Silver hopes to take Sandy relief a step further

January 16, 2013 10:00AM
By Adam Pincus

Rockaway homes that were damaged in the storm

From the January issue: More than two months after Hurricane Sandy hit New York, thousands of outer-borough residents are still reeling from storm damage to their homes and businesses. And while homeowners are no doubt tapping into their own bank accounts to deal with the aftermath of the storm, elected officials in New York City and State are using government levers in an attempt to relieve some of the financial burden for them. Last month, Mayor Michael Bloomberg signed legislation extending property tax payment deadlines from Jan. 1 to April 1 for an estimated 3,000 impacted property owners. In another measure (this one requiring Albany approval), Bloomberg proposed property tax reimbursements for taxes already paid on severely damaged buildings in the current tax year. The reimbursements would be designed to more accurately reflect the current value of the properties and would average about $794 for each of the roughly 900 qualifying property owners, according to his office. [more]

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