A proposal by Treasure Island Rep. Linda Chaney providing tax breaks to homeowners who voluntarily elevate their properties has cleared both chambers.

The joint resolution would, if approved by voters, amend the state constitution to prevent home improvements for flood mitigation from impacting the value of the property for tax purposes. If approved by voters in the 2022 election, then this bill would take effect Jan. 1, 2023.

The bill specifies that changes, additions, or improvements that replace all or a portion of a homestead or nonhomestead residential property for the purpose of voluntarily elevating the property do not increase the property’s assessed value if:

  • The square footage of the property after the voluntary elevation does not exceed 1,500 square feet or does not exceed 110 percent of the square footage of the property before the elevation;
  • At the time the voluntary elevation commenced, the property was not deemed uninhabitable in part or in whole under state or local law; all ad valorem taxes, special assessments, county or municipal utility charges, and other government-imposed liens against the property had been paid; and the property did not comply with FEMA’s National Flood Insurance Program requirements and Florida Building Code elevation requirements and was elevated in compliance with such requirements.

The legislation was introduced as part of a series of priority bills by House Speaker Chris Sprowls to combat “the realities” of sea level rise.

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