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Policy: Budgets & Deficits

NYC mayor proposes tax relief for Sandy victims

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Photo - New York City Mayor Bill de Blasio, left, and New York Gov. Andrew Cuomo talk during the NY Rising Spring Conference on Wednesday, April 23, 2014, in Albany, N.Y. (AP Photo/Mike Groll)
New York City Mayor Bill de Blasio, left, and New York Gov. Andrew Cuomo talk during the NY Rising Spring Conference on Wednesday, April 23, 2014, in Albany, N.Y. (AP Photo/Mike Groll)
News,Business,Taxes,New York City,Budgets and Deficits,Hurricane Sandy,Bill de Blasio

ALBANY, N.Y. (AP) — New York City Mayor Bill de Blasio proposed legislation in Albany on Wednesday that would prevent higher tax bills for city residents who rebuilt or repaired their homes after they were damaged by Superstorm Sandy.

The Democrat said that people who put money into their homes because of storm damage could see their property tax bills rise because of higher assessed valuations.

"For homeowners who were devastated by Sandy, who have rebuilt, we want to make sure they will not be penalized because they were able — over a year and a half — to finally get themselves back on their feet," de Blasio told reporters. He said homeowners should not be hit with a sudden property tax increase.

The measure would lower property tax liability for the 2015 year to the amount it was before the storm.

De Blasio said his proposed bill has bipartisan support in the Legislature, and he believes lawmakers will approve it.

De Blasio announced his bill alongside Gov. Andrew Cuomo, who was at his second NY Rising Conference awarding money to storm-damaged communities for reconstruction.

The New York Rising Community Reconstruction Program is funded by more than $600 million of federal funds and was formed more than a year ago to help regions be better prepared for extreme weather.

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