NEW YORK (CBSNewYork) — Life after Hurricane Sandy is going to get a whole lot easier for New York City homeowners and businesses ravaged by the storm.
Tax bills are being slashed to reflect the reduced market value of their property, CBS 2’s Marcia Kramer reported Tuesday.
For a while there people whose property was decimated by Sandy were seeing red because the city was demanding a whole lot more green, sending out higher tax bills even though their homes and businesses were badly damaged.
“I think they have a different reality and the reality is Mayor Bloomberg making money for the city. That’s what counts, not the people,” Manhattan Beach resident Ira Zalcman said back in February.
But they don’t have to scream “Can you hear me now!” any longer, because Mayor Michael Bloomberg on Tuesday took the unprecedented step of reducing the market value of property in storm-ravaged areas by $12 billion. That’s $90 million in reduced taxes. The city’s Department of Finance sent assessors to more than 6,000 properties for on-site inspections.
Bloomberg estimated the average tax bill will drop by 14 percent. Homeowners and taxpayers can appeal if they think their bill has not been cut enough. Homeowners and businesses who think their tax bills are still too high will have June 20 to contest them.
LINK: City Tax Commission