Sink: Hurricane mitigation grants are tax-free
Chief Financial Officer Alex Sink announced Wednesday that grants to homeowners under the MySafeFloridaHome program are not subject to federal income tax. She received a clarifying letter from the IRS which said that the mitigation grants, to protect homes from future hurricanes, are not considered gross income for tax purposes.
Without the IRS ruling, Sink said, homeowners who get MSFH could have faced a flat-tax payment of 25 percent, or $1,250 on a $5,000 matching grant. Sink's agency runs the MSFH program, at www.MySafeFloridaHome.com.
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People can’t even afford to buy a home in Florida anymore… much less upgrade with government grants designed to validate “The Scam” known as the insurance industry.
Posted by: Tommy Boy | December 12, 2007 at 10:20 AM
Tommy Boy:
You're all wet. This is a great program and actually helps consumers reduce insurance rates and some qualify for matching grants. Get informed before you bash a good program that is saving people money and helping those near the coast receive grants to protect their homes.
Ken
Posted by: | December 12, 2007 at 10:30 AM
Alex Sink comes out of hiding. Havent heard peep from her in a while.
Posted by: | December 12, 2007 at 10:34 AM
Alex doesn't come out often, but it looks like when she does, it's all good. Charlie better watch out.
Posted by: | December 12, 2007 at 01:15 PM
Sounds like she's been busy working.
Posted by: | December 12, 2007 at 01:32 PM
yeah, the circus only comes around once a year or so
Posted by: | December 12, 2007 at 02:49 PM