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Tax Incentive Inactivated

November 14th, 2011 by flanews

In 2008, voters told the state to issue tax breaks to people who strengthen their homes against storms or make their houses more energy efficient.

But nothing has been done. Lawmakers are dragging their feet, letting sit a bill to enable the voters’ wishes. Today the Senate Energy and Public Utilities Committee began discussing a bill to allow the tax breaks. State Senator Mike Fasano is on the committee. He says it’s about time.

“This isn’t a constitutional amendment that was passed last year or a month ago. This has been in effect for several years, but unfortunately it has not gone forward because the legislature has failed to pass the enabling legislation,” said Fasano.

The tax break would work like this: people who make their homes more energy efficient or storm proof would not have to pay taxes on the increased value. Instead; they would continue to pay taxes based on the apprised value minus the upgrade.

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