Disaster victims can now deduct financial losses on income tax returns. Damages from Hurricanes Ian, Helene and Milton affected.

Hurricane Milton impacted more than 5.7 million acres of agricultural land, resulting in an estimated $190.4 million to $642.7 million in losses.

Florida agriculture suffered more than $190 million in losses from Hurricane Milton, making it the costliest for farmers and ranchers of three cyclones that pummeled the state in 2024, according to University of Florida researchers.

Initial calculations from University of Florida economists estimate ag production losses from Hurricane Milton between $190.4 million and $642.7 million.

Agricultural production losses in Florida from Hurricane Milton could reach $642.7 million, pushing the state’s potential crop and livestock losses from three hurricanes this year to nearly $1 billion.