02
Jun

Florida Chinese Drywall Tax Relief

Homeowners struggling with defective imported drywall could see some relief in House Bill 965, signed into law Tuesday by Gov. Charlie Crist.

The bill, which will sunset in July 2017, will allow homes affected by the so-called “Chinese drywall” to have an adjustment in assessed value by the property appraiser, potentially lowering local tax liabilities while in remediation for the drywall problem.

“The homeowners that have been affected by Chinese drywall deserve our unwavering assistance and support,” Crist said in a release. “Through no fault of their own, their property values have been impacted, and this legislation is one bold step we can take to protect their investment.”

Homeowners who have a defective drywall that has caused a “significant negative impact” on a property’s just value, and who were unaware of the problem when buying the home, can have the property appraiser assess the value of their building at $0.

The Florida Department of Health has confirmed the presence of defective drywall in at least 530 homes throughout the state as of March 1, according to the governor’s office, many built between 2004 and 2007.

http://tampabay.bizjournals.com/tampabay/stories/2010/05/31/daily12.html

TAMPA BAY BUSINESS JOURNAL, WEDNESDAY JUNE 2, 2010

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