Spin Cycle

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ALBANY - A new state law aims to help ease some of the financial issues for superstorm Sandy survivors that followed the 2012 storm.

Qualified residents who had to fix, renovate or replace their homes after Sandy and are now hit with higher property tax assessments will be able to spread that added cost over eight years.

The measure, sponsored by Sen. Phil Boyle (R-Bay Shore) and Assemb. Kimberly Jean-Pierre (D-Wheatley Heights), creates a tax exemption for owner-occupied properties in areas hit by Sandy.

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"Families can continue to recover without being priced out of their communities," Jean-Pierre said.

"Increased property tax assessments would have added insult to injury for thousands of homeowners effected by Hurricane Sandy," Boyle said.

Gov. Andrew M. Cuomo signed the bill into law Friday.