Hurricane Sandy

Hurricane Sandy and Property Tax Information 2013

Only nine weeks remain to provide notice to municipal assessors if storm-related property damage occurred between Oct. 1 and Dec. 31.

The following appears on Assemblywoman Nancy F. Muñoz's website: Due to the major property damage caused by Hurricane Sandy, many property taxpayers are faced with value assessments that are no longer accurate.  There is a provision of law that could lead to corrected, lower assessments, but it must be invoked by a certain deadline as noted below.  Under current State law, property value is assessed based on the condition of the lot and the buildings as of October 1st for the following tax year.   In other words, the 2013 property tax bills are based on the value of the property as of October 1, 2012.  However, State law contains a provision which states that a property with a building or other structure that has been destroyed by a storm …

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