Tax assistance for those affected and helpers

Destruction on the banks of the Ahr

The financial authorities of Rhineland-Palatinate and North Rhine-Westphalia are helping those affected with a disaster decree.
Source: dpa

Frankfurt Overflowing basements, damaged houses, destroyed livelihoods: the floods in the Ahr Valley, which are celebrating their first anniversary these days, had dramatic consequences for thousands of people. However, only 45 percent of buildings in Germany were covered by natural hazard insurance.

The federal and state governments have therefore passed a 2021 reconstruction aid law for the affected regions in the amount of 30 billion euros.

In addition, the financial authorities of North Rhine-Westphalia and Rhineland-Palatinate published a concerted “disaster decree” on the first day after the flood.

The package of measures is activated in emergency situations and includes tax breaks to mitigate the financial consequences of an accident for the citizens and companies affected. Even without a catastrophe decree, the Treasury will help. Whether landlord, tenant or owner-occupier – some of the costs for repairing damage after storms can be deducted from taxes. An overview of the possibilities.

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