NY A01298

Provides assessment and tax relief for property owners in 18 upstate counties (Chautauqua, Chenango, Clinton, Cortland, Erie, Essex, Fulton, Hamilton, Herkimer, Jefferson, Lewis, Madison, Montgomery, Oneida, Otsego, Saratoga, Tioga, and Warren) whose properties lost 50% or more of their value due to the October 31, 2019 storm.

Reduces assessed values on the 2019-2020 or 2020 fiscal year assessment rolls by 55-95% depending on the percentage of property value lost, with properties losing 100% of value reduced to zero assessed value.

Requires eligible municipalities to adopt a resolution within 45 days to participate in the relief program, and property owners must submit written requests to assessors within 90 days with supporting documentation of storm damage.

Assessors determine the percentage of value loss and classify it into ranges; property owners may appeal to the board of assessment review if dissatisfied with the determination.

School districts in eligible counties are held harmless by the state for any reduction in state aid resulting from the tax relief provisions.