La. homeowners have 2008 tax breaks

Louisiana homeowners have several ways to save money on their 2008 taxes.

State Insurance Commissioner Jim Donelon is reminding homeowners that they can get a tax rebate if they were charged a Louisiana Citizens Property Insurance Corp. assessment last year. Some homeowners are eligible even if they don't owe taxes.

Another state tax break is a refundable credit to offset individual income tax. The rebate is for 7 percent of the premiums paid by individuals on their primary residence on homeowners, condo owners or tenant homeowners insurance.

A Citizens assessment must be subtracted from the total premium paid before the 7 percent credit rate, Donelon's office said.

Information about state tax breaks is at the insurance department's Web site: ldi.state.la.us.

A federal tax break applies to some homeowners who had hurricane damage last year. That compensation goes toward deductibles paid on damages from Hurricane Gustav or Ike.