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>> NEW YORK Latest News

JUL 14, 2013 - San Francisco Chronicle

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Huge post-Sandy tax increases fail to materialize

Waves of federal aid, some strategic borrowing, lowered property values and surplus accounts helped many shore communities avoid having to raise taxes drastically to compensate for the lost tax revenue. The thinking was that because shore towns had lost so much taxable property in the Oct. 29 storm, governments would have no choice but to raise taxes on surviving structures to make up the difference. [...] because the storm lowered property values and because of an influx of storm recovery aid and borrowing, most municipal tax bills will actually be lower this year. Homeowners in many ... Read More

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