Politics & Government

New Federal Tax Stabilization Plan Gives Boost to Victims of Sandy

Plan utilizing funds from U.S. Department of Housing and Urban Development provides tax breaks to those who properties damaged by superstorm.

The following article was posted by Geoffrey Walter. It was written by Andrew Coen.

A new federal tax stabilization plan announced for New York State this week is expected to be a boost for Long Beach residents who suffered damage to their properties during Hurricane Sandy.

The plan, which utilizes $300 million from the U.S. Department of Housing and Urban Development as part of a disaster recovery action plan for New York State, gives tax breaks to those who had homes or businesses damaged during the Oct. 29 superstorm, Newsday reported [paid link]. The initiative also provides funds to protect against tax levies rising on properties who have assessments lowered due to damages caused by Sandy.


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