2012-12-12 / Front Page

Goldfeder Announces Hurricane Sandy Storm Assessment Relief Tax

Assemblymember Phil Goldfeder (D-Rockaway) announced legislation that he sponsored
would provide property tax relief to Southern Queens and Rockaway homeowners in the wake of the devastating effects of Hurricane Sandy. The New York City Hurricane Sandy Storm Assessment Relief Act (A.39 of 2013), if adopted by New York City, would allow property owners that experienced catastrophic damage as a result of Hurricane Sandy to apply for property tax assessment reductions according to a sliding scale.

Nearly 85 percent of Southern Queens and the Rockaways were damaged or destroyed by
flood or fire as a result of Hurricane Sandy. Property owners continue their efforts to rebuild, however, they are faced with unknown factors including the full extent of repairs as well as when and even if they will receive financial assistance, noted Goldfeder.  

“Hurricane Sandy wreaked havoc on our community,” said Goldfeder. “Nearly all of our homes and businesses were either significantly damaged or completely destroyed. Now we are faced with the daunting task and high costs to rebuild and repair, it is unfair that home and business owners alike should have to pay taxes based on property
assessments made prior to the storm.”

The assessment reduction would apply to property owners that lost at least 50 percent in
assessed value as a result of Hurricane Sandy. Reductions would be assessed on a sliding scale:

• 50 but less than 60 percent loss in value, taxable assessed value would be reduced by
55 percent;

• 60 but less than 70 percent loss in value, taxable assessed value would be reduced by
65 percent;

• 70 but less than 80 percent loss in value, taxable assessed value would be reduced by
75 percent;

• 80 but less than 90 percent loss in value, taxable assessed value would be reduced by
85 percent;

• 90 but less than 100 percent loss in value, taxable assessed value would be reduced by
95 percent; and

•100 percent loss, taxable assessed value would be reduced to zero.
In order for a property taxpayer to receive assessment relief, a written request for
consideration must be submitted to the New York City Department of Finance, which would goldfederp@assembly.state.ny.us | www.assembly.state.ny.us/goldfeder
90-16 Rockaway Beach Blvd. Rockaway Beach, NY 11693 | 718-945-9550
108-14 Cross Bay Blvd. Ozone Park, NY 11417 | 718-641-8755
LOB 834 Albany, NY 12248 | 518-455-4292 determine the percentage of lost value. Assessment changes would be subject to review by the New York City Tax Commission if requested by the property owner.
 

“It is imperative that all levels of government work together in order to provide relief to
the hardworking families and business owners as we begin to pick up the pieces of our lives and rebuild,” Assemblymember Goldfeder said. “I will do everything I can to ensure our community has the necessary tools to get our lives back together.”  

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