New York Governor Andrew Cuomo on Thursday signed legislation that gives property tax relief to victims of Superstorm Sandy, a bill proposed by Mayor Bill de Blasio, who joined Cuomo at the bill signing ceremony in Staten Island.
Previously, if Sandy-related repairs increased the value of their homes, the homeowners were taxed at a higher rate. Following complaints that some would be forced to sell their homes due to the higher taxes, the law now provides an abatement for them. The bill should save homeowners $4 million.
The legislation received bipartisan cheers from both City Council Speaker Melissa Mark-Viverito, a Democrat, and Council Minority Leader Vincent Ignizio, a Republican.
The abatement goes into effect in time for July’s property tax bills.