Florida Government's Efforts to Increase Homeowner's Storm Protection

The state of Florida is constantly trying to make homeownership easier for its citizens, and it’s important to stay informed of the options provided by the Florida Government. Recently Florida enacted two pieces of legislation beneficial to Florida homesteads.

First, taxation bill HB 7071 makes it so sales tax, use tax, and other transaction taxes are not allowed to be collected for impact resistant windows, impact resistant doors, and impact resistant garage doors from July 1, 2022 to June 30, 2024. The Florida government enacted this step to assist homeowners in their storm protection process while also trying to alleviate costs related to homeowner’s insurance.

As many homeowners in Florida can tell you, sometimes it can be a mad dash to get the necessary storm protection required by insurance companies so you can close on your house. We have seen multiple occasions where a carrier will provide temporary coverage conditional on the future homeowner procuring and installing the necessary protection within 30 days of closing. In one such situation, we were able to find an impact resistant door and an impact resistant garage door, proper permitting, and vendors willing to install them in the allotted time period. Those homeowners were able close on their house and keep their insurance policy in place in accordance with their mortgage company requirements. HB 7071 alleviates some of the unforeseen expenses that come with this process.

Moreover, the Florida government is bringing back the My Safe Florida Home program which was previously in effect from 2006 to 2008. The My Safe Florida Home program was reincarnated through Florida Senate Bill 2D which was signed into law on May 26, 2022. This renewed program has allocated $150 million for grants of up to $10,000.00 for qualified homeowners to help with costs on home-hardening projects and, in turn, lower homeowner’s insurance costs.

While no specific procedure for implementation has been devised, as of yet, the Florida Department of Financial Services has stated the renewed My Safe Florida Home program will provide $2 for every $1 spent on hurricane mitigation improvements eligible recipients spend on their homestead. The Florida Department of Financial Services defines eligible homesteads as single family homes valued at $500,000.00 or less; located in, amongst other areas, South Florida; and with the home constructed prior to 2008. Importantly, the improvements must be done by a state designated contractor and approved by a state designated inspector. As the Florida Department of Financial Services has yet to open applications for its My Safe Florida Home program, the above criteria are still provisional and subject to change. We will continue to provide more information about the renewed My Safe Florida Home program as it is revealed by the Florida government. 

While some homeowners may be drawn to the moratorium on taxes for impact resistant home supplies, others may be drawn to the home improvement grants. Whatever group you fit into, the state of Florid is doing its best to assist South Florida homeownership. Specifically, the My Safe Florida Home program intends to provide a home inspection, free of charge, to identify recommended improvements a homeowner may take to mitigate hurricane damage.

With the state of Florida doing all it can to make single family homes safe and accessible to all, it is a great time to become a South Florida homeowner. Contact the Sarubbi Group today to discuss how our exceptional real estate agents can help you get your own slice of paradise.

Written by Basil Sabbak,

Real Estate Agent

Contact Basil via e-mail at Basil@thesarubbigroup.com

Last Updated July 20, 2022