'Hurricane Tax' is coming to an early end

TALLAHASSEE, Florida -- One less tax to pay!

Soon car and home insurance policy holders around the state will no longer have to chip in extra money into the "Florida Hurricane Catastrophe" fund.

For the last eight years, policy holders have been paying a 1.3 percent surcharge to help insurance companies who paid out claims after severe weather hit Florida in 2004 and 2005.

Now that the hurricane fund is in good shape, Governor Rick Scott's cabinet voted to end the fee this January -- a year and a half earlier than expected.

"We're now collecting money for future hurricanes whereas the surcharge was helping us pay off all our claims from Hurricane Wilma eight years ago," said Sam Miller with the Florida Insurance Council.

The Florida Insurance Council says the hurricane fund produces more than $1.0 billion each year.


To find out more about Facebook commenting please read the
Conversation Guidelines and FAQs

Leave a Comment