New York A07441 allows for real property tax abatement in cases of catastrophic loss for one, two, or three family houses.

New York A07441 amends the real property tax law to allow for tax abatement in cases of catastrophic loss for one, two, or three family houses. A "catastrophic loss" is defined as a situation where the property is totally destroyed or so extensively damaged that all dwelling units are unfit for habitation and cannot be made fit within 180 days. Property owners can file a claim for tax abatement within six months of the final assessment roll. If the claim is approved, no interest or penalties will be due, and any previously paid will be refunded.

New York A07441 allows for real property tax abatement in cases of catastrophic loss for one, two, or three family houses.

New York A07441 amends the real property tax law to allow for tax abatement in cases of catastrophic loss for one, two, or three family houses. A "catastrophic loss" is defined as a situation where the property is totally destroyed or so extensively damaged that all dwelling units are unfit for habitation and cannot be made fit within 180 days. Property owners can file a claim for tax abatement within six months of the final assessment roll. If the claim is approved, no interest or penalties will be due, and any previously paid will be refunded.