Hurricane Ian shook things into motion! Not only did the winds physically stir things up around Florida, but the impact it had on people stirred up change in legislation. Facing monumental state-wide devastation, agencies are incentivized to help people make upgrades to their homes to prevent damage in the first place. By stacking these programs together, Floridians can both fund their home fortification projects and realize significant savings in doing so.

Tax Free Windows – Florida Home Hardening Program

This program is time-sensitive! June 30th of 2024 will be the last date that Floridians will pay no taxes on qualifying impact-resistant windows per this program enacted by the Florida Department of Revenue. At a tax rate of 6%, that means you’re saving over $100 on every $1700 you spend. On a project like a window replacement, those kinds of costs can add up to significant savings. You don’t have to complete the project before the end date. As long as you place the order for your windows by June 30th, you’ll get the tax-free exemption.

Federal Tax Credit

In addition to paying no state sales tax on impact windows, you can also receive a federal tax CREDIT for money you spent on hurricane windows and doors in 2024. This year, you can receive a tax credit of up to $3200 for making qualifying energy improvements to your home. Energy efficient exterior doors and windows fall under this umbrella along with other types of home improvements. The amount you spend on windows and doors can account for up to $1,200 of that tax credit. At an income tax bracket of 22%, a $1200 tax credit equates to an extra several hundred dollars off the bottom line of your project.

Florida PACE Program

The PACE Program or, “Property Assessed Clean Energy Program” Program is an innovative mechanism for financing renewable energy improvement projects with little or no up-front costs. This government initiative isn’t a grant, but an innovative financing model that allows long-term, lower-interest repayment through the annual tax bill. Unlike traditional financing, credit score itself isn’t a deciding factor for acceptance into the program. While a credit score may play a role in determining your interest rate, interest rates for PACE are much lower than that of credit financing. There are several reasons why PACE has become a popular option for paying for home improvements:

• Long repayment terms – generally 15-20 years
• Lower interest rates than bank financing
• No Down Payment 
• 100% Funding of hard and soft costs
• Loan stays with the property 
• Credit score isn’t a barrier 

With PACE, homeowners can fund their entire project quickly, realize the current tax benefits in the year of purchase, and make long-term repayments on a home that is hurricane-fortified for years to come. With the state of the housing and home insurance market in Florida, hurricane resistance is a major selling point and one buyers are willing to pay for. Even if the home is sold, the annual cost of these improvements transfers to the new buyer. Qualifying for the PACE Program is a fairly simple process with a quick determination time. Once approved, you can pick a qualified contractor and begin your project.

New programs and manufacturer’s rebates can become available throughout the year. We have top-notch financing experts who help you put together a package and a plan to make use of all of these oftentimes hard-to-find and navigate programs. As an approved PACE contractor, we can help you navigate the process of application and answer any questions you may have about exactly how the program works. Our passion is making your vision a reality! If you have the vision, we can help you bring it to life. With the options available today, you can head into the next hurricane season feeling confident and prepared – and look great doing it!