The Home Improvement Exemption can also be used for repair necessitated by structural damage as a result of severe weather conditions such as flooding.

The Home Improvement Exemption allows a homeowner to add improvements to their home that add to its value (for example, by increasing the building’s square footage, or repairing after structural flood damage) without being taxed on up to $75,000 of the added value for up to four years. 

How it works: