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Town staff explains new state'level "climate change relief" tax provision and how residents can apply
Summary
Town staff outlined a new state provision allowing retroactive property-tax assessment reductions after declared emergencies, explaining a 50% assessed-value threshold for retroactivity, a $10,000 town-tax cap per year, a 90-day filing window with assessors, and that other taxing jurisdictions must opt in for refunds on their levies.
Town staff briefed the board on a new state-level real property tax provision providing limited, retroactive tax relief to property owners who suffer severe damage in a declared emergency.
A staff member (S2) described the law as permitting a retroactive exemption when a property's assessed value falls by at least 50% because of qualifying damage during the governor's declared emergency window: "It would have to be at least a 50% reduction in your assessment." S2 said the reduction is structured as a fixed-amount cap at the town level: "It's a $10,000 reduction for a specific year." If a property owner has losses that exceed the cap for a single year, the staff member said the relief can be pushed into a subsequent year.
S2 explained practical details residents will need to know: applications to the assessor must be filed within 90 days of the incident (or, for events that occurred before the law passed, within 90 days of the law's effective date), and the Department of Taxation is still finalizing forms and guidance for assessors. He also noted that school districts, villages, the county and any special districts must adopt their own local measures to provide refunds for taxes they levy.
Chair (S1) credited Senator Cousins and Assemblywoman Schimsky and said town staff, including Edie McCarthy, helped prepare the legislation at the town's request. The board discussed scheduling public hearings and outreach so affected residents know the process for applying.
What's next: Staff and assessors will await state Department of Taxation guidance and forms and will provide additional information to residents and the board as it becomes available.
