Bloomberg offers tax break for homeowners affected by Sandy

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Photo Courtesy of the mayor's office/Edward Reed
Photo Courtesy of the mayor's office/Edward Reed

Mayor Michael Bloomberg announced two property tax measure to aid homeowners affected by Sandy.

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.

“We are working to help the thousands of New Yorkers displaced by Hurricane Sandy, and those who suffered severe damage face a long period of uncertainty and considerable expense in making decisions about rebuilding and returning to their homes,” said Bloomberg. “We want to do all that we can to ease their heavy burdens, and working with the Speaker, City Council and State Legislature, we will secure two property tax measures that provide a small measure of relief to those who need it most.”

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.