State promotes Citizens rebates

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News,Business

BATON ROUGE, La. (AP) — Louisiana taxpayers are leaving tens of millions of property insurance rebates unclaimed each year.

Insurance Commissioner Jim Donelon said Thursday the reason is that nearly two-thirds of property owners are foregoing the rebates for the Louisiana Citizens Property Insurance Corp. assessment.

Donelon said at the end of 2012, more than $255 million remained unclaimed.

He says property owners have a limited time to claim the rebates. The option to claim the rebate for the 2009 assessment expires after Dec. 31.

The rebates for 2009 to 2012 can be claimed on property owners' Louisiana Income Tax Return as a tax credit; by going to be www.revenue.louisiana.gov/fileonline and clicking on "Citizens Insurance Rebate"; or by filling out Form R-540INS for individuals or Form R-620INS for businesses.

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