renewable energy law
What does this mean i dont understand?
Authorizes the Legislature, by general law, to prohibit consideration of changes or improvements in housing real estate that increase resistance to wind damage and installation of renewable energy sources as factors assessment of property value for ad valorem taxation purposes. Effective upon adoption, repeals the existing renewable energy source exemption the device is no longer in force.
(Everything that came before) authorizes the Legislature to make a law prohibiting the use of changes or improvements in residential real estate for the purpose of increasing the strength of the ownership of wind (eg, hurricane or tornado) damage to calculating the value property tax. The legislature may also prohibit the use, for example, wind turbines or solar panels to calculate the taxable value of property. There is already a tax exemptions in effect for devices of renewable energy (eg wind turbines and solar panels). If adopted this new exemption, the old is immediately and automatically revoked. Edit In other words, if you do something to your home to increase resistance to wind damage and / or if you install a renewable energy device, tax advisers can not count them when calculating the taxable value of your property, thus making these improvements will not make your property taxes to rise.
Law 270.7 – Lecture 2 – Federal Renewable Energy Programs
