Tax Relief for Damaged Properties

There was an article in the Kingston Freeman recently about the county's decision to provide tax relief for some properties that were damaged in Hurricane Irene. If you would like to read the full article here is the link:

Ulster County Executive Michael Hein OKs storm related tax relief (with chart)

What does this all mean? In a nutshell, if a property was more than 50% damaged by Hurricane Irene or Tropical Storm Lee the county has voted to allow the property assessments to be adjusted. That will affect the property owners January 2012 county tax bills (those are the ones we just paid). The Onteora School District has voted to do this as well. So the school taxes paid back in September 2011 will be affected also. BUT TAXPAYERS MUST APPLY!!

Why is this unusual? By state law your assessments are determined by what is on your property on what is called "taxable status day". That is March 1st in New York. That means that whatever is on your property on March 1st is assessed for the upcoming school, county and town taxes. Unfortunately, if something catastrophic happens after that date the assessors office cannot legally make the adjustment until the following year UNLESS the state legislature passes a new law. In the aftermath of Hurricane Irene and Tropical Storm Lee the legislature did just that. It passed a law giving permission to the school district, the county and the town to decide if they wanted to amend the assessments for properties that were damaged by 50% or more as of late August 2011. (If you would like to read the legislation go to: Summary of Legislation Hurricane Irene and Tropical Storm Lee Assessment Relief Act). The amended values will reflect the damage done to properties by the water. BUT OWNERS OF THE AFFECTED PROPERTIES MUST APPLY TO THE ASSESSORS OFFICE FOR THIS PROGRAM NO LATER THAN MARCH 8TH, 2012!!! SUPPORTING DOCUMENTATION MUST BE PROVIDED! (call the assessors office 845-688-5003 for details) You can get the application at the assessors office or online at www.shandaken.us.

So if you have damages that you feel would be qualify for consideration, please be sure to get to the assessors office by March 8th and file the paperwork.

Going forward to the 2012 roll, the assessments will be adjusted on properties that have unrepaired damage which would affect the market value (including those damaged less than 50%). BUT YOU MUST NOTIFY THE ASSESSORS OFFICE AND MAKE AN APPOINTMENT TO HAVE YOUR PROPERTY VISITED so that a correction to your assessment can be made for the coming tax year.

As usual, if you would like your property visited for any other reason the assessors office is always available. Just call and make an appointment.