Tax Relief for Sandy Victims Expected to Become Law

This article was written by Scott P. Moore.

Legislation to provide tax relief to Sandy victims sponsored by local Sen. Phil Boyle is headed to the governor's desk to be signed into law.

The new soon-to-be law is expected to provide residents that were impacted by the October hurricane with up to 20 percent lower tax assessment for the upcoming tax year as well as a potential reassessment of their 2012 payment.

“Property  owners can now breathe a sigh of relief because they will not be required   to  pay  full  property  tax  bills  on  homes  that  are  worth significantly  less because of the storm,” Senator Boyle said in a statement.  “It is only fair  that  those who suffered major losses will receive a reduced property tax bill based on a post-Sandy assessment.”

The new law will allow local villages and towns to issue bonds to help offset the loss of tax dollars for the time being.

“As  thousands  of  Long Islanders continue to struggle with the rebuilding costs of Hurricane Sandy, my legislation helps provide tax relief and eases some  of the financial burden that struggling homeowners have had to face,” Boyle said.  "The tax relief this law will provide will help Sandy victims, especially my constituents who live in hard-hit areas on the South Shore of Long Island."