Assemblyman Phil Goldfeder (D – Belle Harbor) has drafted a bill extending New York City property tax abatements for Superstorm Sandy victims seeing tax increases due to home repairs made as a result of the storm. This legislation would extend the law passed in 2014 that reduced homeowner’s property taxes for fiscal year 2014-2015.
“Sadly, more than two years after Sandy, many families find themselves spending their life savings to recover from the storm,” said Assemblyman Phil Goldfeder. “If passed, this new legislation will provide much-needed financial relief to many of our families in southern Queens and Rockaway who continue to be burdened by the huge financial cost of rebuilding.”
The new legislation amends state real property law to allow New York City to provide a partial abatement on homeowner’s annual property tax assessment for home repairs and improvements stemming from damage sustained during Superstorm Sandy. Under current tax law, home improvements are not subject to state property tax caps intended to protect homeowners from property value increases that can translate into higher taxes. The new legislation would provide tax relief to homeowners meeting the following criteria:
- NYC Department of Finance (DOF) reduced the assessed value of a homeowner’s property between Fiscal Years 2012-2013 as a result of damage caused by Superstorm Sandy.
- DOF then increased the assessed value between Fiscal Years 2014-2015.
- The property’s assessed value for Fiscal Year 2015 is greater than the assessed value was in 2013.
Last year, Assemblyman Goldfeder sponsored similar legislation that provided partial tax abatements for post-Sandy repairs made by homeowners. However, this law only applied to 2014 and has not been renewed. As a result, many homeowners were shocked to find large increases in their property taxes when they received their Notice of Property Value from the city in January.
“According to the city, my property value has increased over $300,000 in the last two years and they say it’s based on the alterations I did after Sandy. This is going to increase my taxes by a third, which would put me paying close to $10,000 a year,” said Neponsit resident Michael Scandiffio. “My neighbor got the same exact increase even though their home is smaller. It seems like anyone who was hit by Sandy is now getting nailed with these high taxes. They’re killing us.”
According to the Department of Finance, abatements received by homeowners last year ranged from hundreds of dollars, to upwards of $4,000. The new legislation proposed by Assemblyman Goldfeder is expected to provide similar benefits to homeowners still struggling to recover from Sandy. For Goldfeder, this would translate into considerable relief for many in the community.
“This bill is about making sure every family can afford to rebuild their home and stay in the neighborhoods they know and love,” concluded Goldfeder. “Providing this tax relief will provide financial strength to families as they work to rebuild from Sandy.”
Homeowners with questions or concerns regarding their property tax assessments are encouraged to contact Assemblyman Goldfeder at (718) 945-9550 or via email at [email protected].
(YWN Desk – NYC)
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One Response
While we all go about our regular lives there are people STILL REELING from the effects of Sandy! it is one of the greatest scandals of modern history what the gov. has done in its NOT helping these poor people. SHAME!!