Disaster Mitigation and Tax Parity Act of 2025

Right now, if the federal government gives you money to make your home safer against disasters like floods, you don't have to pay income tax on that money. This bill would give the same tax treatment to similar payments you receive from state or state-created programs that help you make improvements to your property to reduce damage from windstorms, earthquakes, floods, or wildfires. That means you wouldn't have to count those state payments as income on your taxes. However, just like with the federal payments, these state payments would not increase the official value of your property for tax purposes.

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