One area of serious concern is the loss of taxable properties from local taxable property lists.  Just when the localities need money the most for the many extra tasks and needs, the bases of their revenues are reduced. Here are two articles re the Post-Sandy effects in NJ:

League of Municipalities seminar tackles loss of ratables from economy, Hurricane Sandy . Some excerpts:

Municipalities across the state watched as a sour economy coupled with a foreclosure crisis ate away at real estate values during the past several years, undermining the most significant source of revenue for towns: property taxes.
Then Hurricane Sandy hit, striking another blow to the housing market.

“There is some grim news here,” said Thomas Reilly, the assistant director of property administration for the state Division of Taxation, before starting a presentation to local officials today. “People aren’t building homes. Builders aren’t building. People don’t have jobs. That’s what’s largely affecting us.”

Hurricane Sandy deals big blow to N.J. towns’ property tax rolls

Hurricane Sandy has dealt a vicious blow to tax bases in Ocean and Monmouth counties, reducing overall property values by more than $5 billion and robbing local governments and schools of about $77 million in potential revenue, preliminary figures show.