State Budget Includes Tax Relief For Flood Victims
The new state budget will include a provision to assist local property owners recovering from last year’s flooding.
Home and business owners who suffered major property damage from the floods can now apply for a property tax reassessment if their 2013 assessed value did not reflect flood damage.
Oneida, Herkimer, Madison, and Montgomery counties will have an option to reassess properties severely damaged or destroyed between June 20, and August 9, 2013, so the assessments reflect post flooding value.
The measure also includes a graduated scale of property tax reduction levels based on the amount of damage home and business owners suffered.