Bill > A07748

This bill enacts the "climate change property tax relief act," which provides assessment relief to property owners within eligible municipalities for damages caused by major disasters or local disasters. The bill defines key terms such as "eligible municipality," "eligible property," and "damages," and outlines the process for property owners to apply for and receive the tax abatement. It also specifies that municipalities can set a minimum damage floor and maximum benefit ceiling, and that increases in assessed value due to improvements made after the disaster will not be considered a selective reassessment. The bill aims to provide relief to homeowners whose properties have been impacted by natural or man-made disasters related to climate change.

Budget and Finance, Government Affairs

https://www.nysenate.gov/legislation/bills/2023/A7748