Assemblyman Buchwald Helps Pass the Hurricane Sandy Assessment Relief Act

February 5, 2013

In response to the severe property damage caused by Superstorm Sandy, Assemblyman David Buchwald (D-Westchester) announced the Assembly’s passage of a bill he co-sponsored to bring relief to the families affected (A.2294).

“Superstorm Sandy was one of the worst disasters that Westchester has seen,” Assemblyman Buchwald said. “The damage inflicted has left many local families grappling with the cost of rebuilding their homes and their lives.”

The Hurricane Sandy Assessment Relief Act provisions must be adopted by individual municipalities. The law would apply to properties that have lost 50 percent of their previously assessed property values in counties included in the federal disaster declarations for Superstorm Sandy. Revised property tax values, based on the percentage of property value lost, would be determined as follows:

• a loss in value of between 50 percent and less than 60 percent would result in a 55 percent property tax reduction;
• a loss in value of between 60 percent and less than 70 percent would result in a 65 percent property tax reduction;
• a loss in value of between 70 percent and less than 80 percent would result in a 75 percent property tax reduction;
• a loss in value of between 80 percent and less than 90 percent would result in an 85 percent property tax reduction;
• a loss in value of between 90 percent and less than 100 percent would result in a 95 percent property tax reduction; and
• a 100 percent loss in property value would reduce property taxes to zero.

“This legislation would go a long way toward helping families and property owners by alleviating a portion of the financial burden they’re bearing as a result of Superstorm Sandy,” Assemblyman Buchwald said. “It’s unfair to expect property owners to pay their property taxes in full, for a home that has been nearly or entirely destroyed. The Hurricane Sandy Assessment Relief Act would give these families and property owners the tax relief they deserve to help them get back on their feet.”

An assessor would determine the value lost due to Superstorm Sandy on a case-by-case basis. If requested by the taxpayer, the findings would be subject to review by the Board of Assessment Review or the Assessment Review Commissioner, whichever is applicable.

To receive the savings in a participating municipality, qualifying property owners must submit a written request to their local assessor within 90 days of the Hurricane Sandy Assessment Relief Act becoming law.

“There is still much to be done in the wake of Superstorm Sandy,” Assemblyman Buchwald said. “This legislation will help ensure that we ease the tax burden placed on Westchester families as they continue along the road to recovery.”

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