A recently signed new law designed to give homeowners with tainted Chinese drywall a break on their property tax goes into effect this month. And according to the Florida Department of Revenue the law will also apply to town homes and condos.
The legislation’s focus is to reduce the tax burden for property owners’ with defective imported or domestic drywall that have had to move out because of the unsafe environmental conditions inside the property. The structures on these affected properties will be assessed at $0 dollars if it is deemed uninhabitable. The property owner would still pay taxes on the value of the land. Read more