Bill > A00416

This bill provides a comprehensive framework for offering property tax assessment relief to victims of local or major disasters in eligible municipalities in New York. The legislation allows local governments to adopt an ordinance providing tax relief for residential properties and small businesses that have suffered significant damage during a disaster occurring on or after January 1, 2020. The relief is structured as a sliding scale reduction in assessed property value based on the percentage of improvement value lost, ranging from 15% reduction for properties losing 10-20% of value to a 100% reduction for properties losing all of their improvement value. Municipalities can opt into the program and specify details such as the minimum damage threshold required to qualify (which cannot exceed 50%) and a maximum benefit ceiling. Property owners must submit a detailed application with supporting documentation like insurance reports, appraisals, or photographic evidence to prove their property's damage. If a property is declared uninhabitable or condemned due to disaster-related health and safety concerns, it may receive a 100% exemption. The bill also ensures that school districts will be held harmless by the state for any reduction in state aid resulting from these tax relief provisions.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A416