Thousands of New York’s Staten Island residents hit hardest by Hurricane Sandy last October will get a property tax credit because of the superstorm’s damage to Staten Island homes and businesses. All told, New York City residents will pay over $90 million less in property taxes throughout all five boroughs.
Mayor Bloomberg Says Tax Relief Will Help Rebuilding Efforts
According to the Staten Island Advance, New York City Mayor Michael Bloomberg recently announced a tax bill reduction plan at the Liberty Warehouse event space in Brooklyn’s Red Hook waterfront district.
Bloomberg said the City’s Finance Department reduced the market values by $12 billion for 88,000 properties affected by Hurricane Sandy citywide – including 16,980 properties located on Staten Island – after re-assessing the structures hit by the storm.
So, good news for everyone? Well, not really. Bloomberg admitted that many homes won’t see any reduction at because of New York’s complicated tax structure, which is unlikely to change anytime in the near future.
Getting What You Deserve
While some New Yorkers may be limited in what they’ll get in property tax relief, homeowners who have not yet been compensated by their insurance companies are not, and they can do something about that. Regardless of whether your legitimate homeowners’ insurance claim was denied, is being delayed or if you’ve been offered a low-ball settlement, the New York City bad faith insurance attorneys at Belluck & Fox can help you get what you deserve.