Homeowners who rebuild or repair properties that had damage as a result of Hurricane Sandy may qualify for an adjustment to their property values. This is for homeowners in Tax Classes 1, 2, and 4.
This began in fiscal year 2015-2016.
To qualify for this tax relief, the assessed value of the building must have:
- Decreased in 2013 from the assessed value in 2012
- Increased, or will increase, as a result of repairs or rebuilding from 2014 through 2020
The Department of Finance (DOF) sent Revised Notices of Property Values via mail. These are dated May 21, 2015. These were for owners of properties with assessed values that have been adjusted, so their property taxes are calculated as if the storm had not occurred.
Learn more about Hurricane Sandy Tax Relief.
