Posted on March 13, 2023 by jdupree
October 10, 2018 is a day that forever changed Bay County as Hurricane Michael ravaged the County and the panhandle. Tens of thousands of properties were damaged or destroyed and one of those properties may have been yours. If so, I want to make you aware that December 31, 2023 is the last day to have begun measures to begin or indicate your plan to rebuild or repair your property and benefit from the legislation enacted after Hurricane Michael. The legislation provides for the assessed value of damaged or destroyed improvements on a property to revert to their 2018, pre-hurricane assessed value plus any applicable Save Our Home or Assessment Growth Limitation caps once repaired or rebuilt. The legislation created the following statute:
193.1557 Assessment of certain property damaged or destroyed by Hurricane Michael.—For property damaged or destroyed by Hurricane Michael in 2018, s. 193.155(4)(b), s. 193.1554(6)(b), or s. 193.1555(6)(b) applies to changes, additions, or improvements commenced within 5 years after January 1, 2019. This section applies to the 2019-2023 tax rolls and shall stand repealed on December 31, 2023.
As a result, one will have a completely new home or building or newly repaired home or building with an assessment similar to 2018. For more information, please call your Property Appraiser’s office at 850-248-8401 or feel free to call Dan anytime on his cell phone at 850-832-2668.