Governor Kathy Hochul signed new legislation Wednesday to extend the deadline to apply for tax-exempt status on renovations or reconstruction of residential properties affected by Superstorm Sandy.
The new law extends the deadline for two years, until March 1, 2024. Tax exemption applications are available here.
Today’s bill signing follows an increase in construction delays and massive material shortages due to the pandemic. This deadline extension will allow more homeowners affected by Superstorm Sandy to apply for a tax exemption.
“Superstorm Sandy was a devastating weather event for countless New Yorkers, many of whom are still dealing with the damage a decade later,” Governor Hochul said. “My administration remains focused on helping New Yorkers build safer, stronger and more resilient homes in the aftermath of the storm. By extending this deadline, we ensure that even more homeowners can take advantage of this tax relief after experiencing delays, materials shortages and other difficulties caused by the pandemic.
This announcement follows Governor Hochul’s other recent efforts to provide tax relief to New Yorkers, including a $1 billion property tax rebate program to put money back into the pockets of more than 2 million New York homeowners. York. Last month, the Democrat also suspended New York’s gas tax amid rising gasoline prices, saving New Yorkers an average of 16 cents a gallon at the pump.
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