KIYC: Homeowners affected by Sandy could get a tax break

Homeowners whose properties were damaged by Sandy might be able to get a break on property taxes with the help of a simple letter. Property

A simple letter can help homeowners recovering from

A simple letter can help homeowners recovering from damage caused by the superstorm.

EDISON - Homeowners whose properties were damaged by Sandy might be able to get a break on property taxes with the help of a simple letter.

Property taxes are generally determined based upon the value of the home on Oct.1.

However, if there is any sort of depreciation of the property between October and December, such as the type that comes with storm damage, all homeowners need to do is notify their local county tax assessor with a letter.

An attorney specializing in property tax law tells Kane In Your Corner that if a house suffered significant damage in the storm, a letter sent to the county tax assessor could equal a property tax break for the homeowners.

There's no need for an attorney or accountant in order to send the letter.

The deadline to submit a letter requesting a revalue on your property is Jan. 10. After that, it is too late to do it for 2013.

The only exception to the rule is for those lucky enough to already be paying a marginally lower tax rate in comparison to their neighbors.

Homeowners in this scenario should talk to a tax lawyer first before sending a letter.

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