As tax season rolls around, many SWFL residents could use some relief.
Tax Relief for Hurricane Ian victims comes two-fold with a potential prorated refund of property taxes already paid, and/or a casualty loss deduction on your federal tax return.
Hurricane Ian Property Tax Relief
The following information is taken from the Lee County Property Appraiser website.
On December 16 Governor Ron DeSantis signed into law section 197.3181 Florida Statutes which provides for a prorated refund of property taxes for residential dwellings rendered uninhabitable by Hurricane Ian. The Department of Revenue has prepared a Hurricane Ian guide for understanding the details.
To be eligible for a partial property tax refund, you must have owned and paid the taxes for a residential property that we determined to be “uninhabitable” for 30 or more days between September 28th, 2022 and December 31, 2022. Under s. 197.3181 F.S., “‘uninhabitable’ means the loss of use and occupancy of a residential improvement for the purpose for which it was constructed resulting from damage to or destruction of, or from a condition that compromises the structural integrity of, the residential improvement which was caused by Hurricane Ian or Hurricane Nicole during the 2022 calendar year.”
Visit Leepa.org to fill out the application online or download the form. Applications will be accepted through April 3, 2023.
Hurricane Ian Tax Deduction
Individuals and households affected by Hurricane Ian that reside or have a business in a disaster area have the option of claiming disaster-related casualty losses on their federal income tax return. This can be applied to tax returns for the year in which the event occurred or the year prior. Affected taxpayers may deduct personal property losses that are not covered by insurance or other reimbursements.
For details, see Publication 547, which explains the tax treatment of casualties, thefts, and losses on deposits.
- A casualty occurs when your property is damaged as a result of a disaster such as a storm, fire, car accident, or similar event.
- Theft occurs when someone steals your property.
The IRS reminds affected taxpayers claiming the disaster loss on their return to put the Disaster Designation, “FL Hurricane Ian” in bold letters at the top of the form. And, be sure to include the FEMA disaster declaration number, DR-4673-FL, on any return. Click here to read more.
Copies of Tax Records
In addition, the IRS will waive the usual fees and requests for copies of previously filed tax returns for affected taxpayers. Taxpayers should put the assigned Disaster Designation “FL Hurricane Ian” in bold letters at the top of Form 4506, Request for Copy of Tax Return, or Form 4506-T, Request for Transcript of Tax Return, as appropriate, and submit it to the IRS.
Hurricane Ian Resources
Florida Property Taxes Explained
Tax Talk: Rental Property Income & Deductions