Cuomo signs Sandy property tax assessment legislation

Gov. Andrew Cuomo has signed legislation that could lower property tax assessments on properties destroyed or damaged by Superstorm Sandy. The new law will allow for retroactive adjustments of January 2013 tax bills.

The bill aims to provide relief to property owners that received tax bills in 2013 that were based on pre-Sandy valuations and that did not accurately reflect storm losses. Property owners who have already paid their January 2013 tax bills can receive refunds. Property owners have 90 days from today, October 29, 2013, to apply to a local assessor for a reduction.

For more information on this and other Superstorm Sandy related legislation, click here.