Homeowners affected by Hurricane Sandy may soon see a property tax rebate coming their way.
A City Council resolution was recently signed to call upon state legislators to introduce and pass a bill for the governor to sign, providing for a $500 rebate to some homeowners throughout the city. The program would assist New York homeowners who are experiencing financial difficulties relating to the Great Recession of 2008, Hurricane Sandy or New York City’s exorbitant cost of living.
“New Yorkers already suffer one of the highest tax burdens in the country,” said City Councilman Eric Ulrich, who signed onto the resolution. “Costs across the city continue to pinch pocketbooks and force residents to dip into their savings or college accounts. Albany should use recent surpluses to provide real property tax relief for the middle class immediately.”
A similar program was once set up in 2004 by former Mayor Michael Bloomberg that granted a property tax rebate of $400 to qualified homeowners. But that program ran out of steam and shut down in 2008.
The next step for the resolution is to make its way up to Albany and go through the Assembly and state Senate. Ultimately, the state Legislature and Gov. Andrew Cuomo must agree on any potential tax relief legislation.
But residents hope it will get done to help with some of costs of repairs from Hurricane Sandy.
“The tax rebate can only help the victims of Hurricane Sandy as they still recover from the effects of the storm. Many homeowners had to dip into their life savings to make up the difference between what repairs actually cost and what was given to them from their flood insurance carriers,” said Roger Gendron, president of the Hamilton Beach Civic Association and Sandy-affected homeowner. “Any financial help that can be provided to those who were hit so hard by the storm is another step on their road to recovery.”
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