Florida CFO Alex Sink recently scored a win for FL taxpayers with the Internal Revenue Service. In a press release dated Dec 12, she announced that the IRS has agreed to exempt from federal income tax all My Safe Florida Home grants paid to FL homeowners. That IRS ruling, first applied for by Sink in June, will save FL taxpayers around $2.5 million in federal tax liability.
The MSFH program is still one of the best ways for FL homeowners to begin to harden their home against hurricane damage. As noted in the release, many homeowners can realize savings in their insurance premiums without any improvements being made. Sink reports that 76% of homeowners who got the report and presented it to their insurance carriers were eligible on average for a $210 premium reduction based on the present condition of their home.
Even with recent eligibility changes, such as reducing the limits on the insured value of homes and restricting coverage to Wind-Borne Debris Regions only, MSFH has helped over 100,000 Floridians protect their homes from potential hurricane damage. That has got to be a good thing.
If you qualify, or think you do, contact the folks at My Safe Florida Home. Go to the MSFH website, or call them at 1.866.513.6734.
Regards,
Stormy
Friday, December 21, 2007
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3 comments:
Merry Christmas, Stormy!
With the expiration of the MSFH grant monies, the program only exists for free home inspections, effective May 31, 2008. Any outstanding grants had until June 12 to complete their paperwork submission. After that date, all matching grants were voided and all remaining funds are to be used for the cost of home inspections.
I have heard low income and non-profit groups will be able to receive MSFH funding into next year. Has anyone else heard about this?
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