FOR IMMEDIATE RELEASE

March 8, 2012

Commissioner Donelon, Department of Revenue
Urge Property Owners to Claim Their Citizens Assessment Rebate 

Commissioner of Insurance Jim Donelon and Department of Revenue Deputy Assistant Secretary Gary Matherne held a joint press conference today to urge property owners to claim their rebate for the Louisiana Citizens Property Insurance Corporation (Citizens) assessment charged on their insurance policy. “If property owners have not yet claimed their Citizens rebate, tax time is certainly a good time to do it,” said Commissioner Donelon. “It’s not too late to submit your rebate claim form for assessments paid in 2008 through 2011. As of the end of last year, $260 million or 65 percent of those funds were not claimed.” 

Commissioner Donelon noted that the allotted time to claim funds for 2006 and 2007 expired at the end of 2010 and 2011 respectively, and $143 million, or 54 percent of those funds went unclaimed. Donelon urged policyholders to check the declaration page of their property insurance policy to find the Citizens assessment amount they paid. 

“Claiming your rebate for 2008, 2009, 2010 and 2011 is a simple process that can be done one of two ways,” said Donelon. “One option is to fill out a short rebate form for each year that you paid the Citizens assessment, which is form R-540INS. You can mail or fax it in, along with your insurance declaration page for that year, which shows the amount of your paid assessment.” Forms for all four calendar years are located on the LDI and LDR Web sites.

Matherne said a second option available to property owners is to claim the rebate as a tax credit on your Louisiana Individual Income Tax Return, which is due each May. “Be sure not to claim your paid Citizens assessment rebate on both the rebate form and your tax return since this will delay your refund,” said Matherne.

Matherne added that property owners must not forget to include a copy of their insurance policy declaration page showing proof of the assessment amount when requesting the Citizens rebate using form R-540INS. He added that people should not claim the total insurance premium, only the Citizens assessment. 

Matherne recommended that those who pay the Citizens assessment on more than one property send in a single rebate form for all properties each year rather than a separate rebate form for each property. An R-INS Supplement form should be used for more than one property. Otherwise, the second claim will automatically be delayed for review. 

Commissioner Donelon said he will embark on a statewide public awareness campaign during the month of March to discuss the Citizens rebate and residential property storm mitigation incentives, which include a state tax deduction and insurance premium discounts available to homeowners who strengthen their homes against storms and hurricanes. Donelon said these are important savings available to the public this tax season and beyond. “Property owners may be eligible for a state tax deduction for voluntarily retrofitting their home, and insurance premium discounts for voluntarily building or retrofitting their home to comply with the Louisiana State Uniform Construction Code, which will make their home more hurricane resistant,” said Donelon. This includes but is not limited to such building applications as roof deck attachment, roof bracing, roof covering, roof-to-wall connections, secondary water barrier, and opening protection.

For more information on the Citizens assessment rebate, visit the Department of Insurance Web site at www.ldi.la.gov. Click on the Citizens Insurance Rebate link on the home page to access the necessary forms and for more information on the Louisiana State Uniform Construction Code state tax deduction and insurance premium discounts.

Citizens assessment rebate forms can also be found on the Department of Revenue Web site at www.revenue.louisiana.gov/citizens.

Louisiana Department of Insurance
Available Citizens Assessments Unclaimed
as of December 31, 2011
 

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