Each year, hundreds of millions of dollars are unclaimed by insurance policyholders in Louisiana. All property insurance policyholders pay the Louisiana Citizens Property Insurance Corporation assessment as part of their property insurance bills each year. This assessment is refundable and you can find the dollar amount of the assessment on the declaration page of your policy.
Property owners are eligible for a state rebate for the Louisiana Citizens assessment for 2010, 2011, 2012, 2013 and 2014. In December 2013, almost $240 million or 65 percent of the total rebate amount available remained unclaimed.
There are three ways you can claim your rebate:
1.Online. Policyholders can visit www.revenue.louisiana.gov/fileonline. This link will take you to a webpage for Online Filing and Payments. This system also enables you to fill out the form necessary for your Citizens refund. You will need to register as a user and follow the links. There will be an option to Claim Citizen’s Refund. Once you fill out your information, you will have the option of choosing to receive the rebate by direct deposit, paper check or pre-loaded debit card.
2. On Paper. Fill out the Louisiana Department of Revenue tax form for the year in which you paid the Citizens Assessment. It takes only a few minutes to fill out the very short form that asks for information such as your name, address and the amount of the assessment you paid. To access forms, click here.
3. Tax Return. Claim the rebate as a tax credit on your Louisiana Individual Income Tax Return, which is due each May. Be careful not to claim the rebate on both the INS form and the tax return since this will delay your refund.
There are also state tax deduction and insurance premium discounts available to homeowners who strengthen their homes against storms and hurricanes. For more information, please click here.