Florida TaxWatch is praising the Legislature for greenlighting a bill to provide tax savings to victims of hurricanes Ian and Nicole.
The bill (SB 4A) would give affected homeowners proportional property tax refunds based on the amount of time their homes were uninhabitable following the storm.
The measure, which passed unanimously, also includes beach renourishment funding and is expected to cost the state $751.3 million. Additionally, Legislative economists expect the proposal will reduce local tax revenue by $18.3 million.
Florida TaxWatch president and CEO Dominic Calabro commended lawmakers for “making thoughtful policy recommendations” and specifically thanked Gov. Ron DeSantis, Senate President Kathleen Passidomo and House Speaker Paul Renner for the bill’s swift passage.
Calabro noted that the tax refund portion of the bill was recommended by FTW in October, shortly after Hurricane Ian made landfall.
“In fact, Florida TaxWatch is proud that, to date, most of our nine total post-Hurricane Ian recommendations have been implemented or are available to the Department of Revenue as tools to help with assisting impacted residents. We look forward to witnessing how this latest development — which we recognize was made possible by sound fiscal policy that generated an unprecedented level of reserves — will further support ongoing efforts to return the Sunshine State to full strength following back-to-back storms,” he said.
“Florida TaxWatch will also be monitoring and reporting on the property insurance and toll-related measures passed during this week’s Special Session in the months and years ahead.”
The full list of Florida TaxWatch’s recommendations to assist storm victims is available online.