Bloomberg announces property tax relief efforts related to Superstorm Sandy

New York City Mayor Michael Bloomberg has announced two proposals designed to provide property tax relief to New Yorkers hit hardest by Superstorm Sandy. The first measure would provide homeowners whose houses need extensive structural repairs or demolition interest-free extensions on their property tax bills until April 1, 2013. The second proposal would reimburse about 900 property owners for a portion of property taxes they paid this year to reflect the homes' diminished post-storm value.

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