New York City is helping property owners through tax relief and other measures

The City of New York is offering property tax relief initiatives to assist New Yorkers whose homes were severely damaged by Hurricane Sandy. To provide immediate relief, the city Finance Department will issue an interest-free extension on the next property tax bill for residential properties damaged beyond repair or in need of extensive structural repairs before they can be re-inhabited. The grace period will postpone payments due on January 1, 2013 to April 1, 2013.

The city also proposed to reimburse homeowners for a portion of the property taxes due this Fiscal Year so that the payments more accurately reflect properties' post-storm values. The reimbursement measure would require approval from the New York State Legislature. Mayor Michael Bloomberg, City Council Speaker Christine Quinn, and Finance Commissioner David Frankel made the announcement on Staten Island at one of the citys seven Restoration Centers.

Read more about other NYC hurricane-recovery programs here.

Visit www.nyc.gov for complete information about New York City hurricane-related services.

Related Links