Residents Furious After NYC Raises Taxes On Sandy-Ravaged Homes

NEW YORK (CBSNewYork) — A property tax revolt is brewing in areas of New York City hard hit by Hurricane Sandy. Residents are crying foul over the city’s decision to raise the assessed value — and the taxes — on homes damaged by the storm.

Imagine the nerve … the chutzpah … Your home sustains more than $100,000 in damages from the hurricane and the resale value immediately plummets, only to have the city say it’s actually worth more and you have to pay higher taxes, CBS 2?s Marcia Kramer reported Monday.

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“I think they have a different reality and the reality is Mayor Bloomberg making money for the city. That’s what counts, not the people,” said Ira Zalcman, president of the Manhattan Beach Community Group.

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