Assembly Passes Legislation to Reduce Taxes for Property Damaged During Hurricane Sandy

WASHINGTON, D.C. – May 20, 2014 – (RealEstateRama) — Speaker Sheldon Silver announced the passage of legislation that will help to streamline the recovery process and prioritize rebuilding efforts following Hurricane Sandy. This legislation (A.9578) authorizes New York City to grant partial abatement of taxes on real property that was seriously damaged during the storm and has since been rebuilt.