New York ~ Property Tax: Assessment Relief Enacted for Property Impacted by Recent Flooding

Enacted New York legislation creates the Lake Ontario and Connected Waterways Assessment Relief Act, which provides for property assessment relief in the form of a reduced assessment for owners that have incurred damage from the flooding events during the spring of 2017 in upstate New York along Lake Ontario and the St. Lawrence River. Eligible counties are those included in the governor’s Executive Order 165 of 2017, declaring a state of emergency, dated May 3, 2017, and eligible municipalities are those located within any eligible counties.

An eligible municipality may exercise the provisions of the Act if its governing body passes a local law, or in the case of a school district, a resolution, adopting the provisions of the Act within 45 days. Assessment relief is provided on a percentage basis, based on the percentage of loss of improved value due to the flooding. Such percentage loss in improved value is to be adopted by the assessor, and subject to review by the board of assessment review.

To receive relief, a property owner must submit a written request to the assessor on a form approved by the Commissioner within 120 days following the date of enactment. Such request must include any and all reports prepared by, but not limited to, an insurance adjuster, real property appraiser or broker that describe in reasonable detail the damage caused to the property by the flooding and the condition of the property following the flooding and may be accompanied by any other supporting documentation. The assessor must mail written notice of findings to the property owner and the participating municipality. Appeal procedures for aggrieved property owners are also provided in the law.

Ch. 85 (A.B. 8013), Laws 2017, effective July 10, 2017, and deemed to be in full force and effect on and after May 3, 2017

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