Owners of homes ravaged by Superstorm Sandy will be receiving a break on their property taxes, Mayor Michael Bloomberg announced yesterday on the one month anniversary of the storm.
Bloomberg proposed a resolution to reimburse a portion of homeowners’ property tax bill so it falls more in line with the home’s post-Sandy values. The average reimbursement would be $794 for the 900 homeowners that are eligible, according to the mayor’s office. The proposal requires approval from the state Legislature.
The mayor made the announcement at one of the city’s seven restoration centers on Staten Island. He was joined by Council Speaker Christine Quinn, Finance Commissioner David M. Frankel and several Staten Island politicians.
The mayor also announced that homeowners whose residences received a red tag will receive a interest-free three month extension on the next property tax bill, which averages $506, postponing the payment from January to April of next year.
The City Council must approve the proposal.