Published: Jun 02, 2010 3:47 AM EDT
Updated: Jun 02, 2010 12:47 AM EDT

FLORIDA, Fla. - A big win for hundred of Southwest Florida homeowners with Chinese drywall. Tuesday, Governor Crist signed a new law that will lower the amount of property taxes you pay if you have Chinese drywall.

"Often times you wouldn't think people would be happy about getting their property taxes put at $0," Richard Kampf of Cape Coral tells WINK News.

That is unless you're one of the hundreds of people with defective drywall in your home.

"In this case, it's a true identity that Chinese drywall has affected us so much that it has taken our property to nothing," Kampf goes on.

He is one of the driving forces behind House Bill 965 being signed into state law. Kampf even testified in Washington on the subject.

The new law requires appraisers to adjust the value of single-family homes to reflect the defective substance running throughout the walls, ruining appliances and some say even worse.

"It creates ill effects to your health." Kampf says he's suffered nose bleeds frequently from the drywall.

In cases where no one can live in the house unless the drywall is replaced, those people will have their property valued at $0 and no taxes will be paid.

For Kampf, he says it will free up money to move to a temporary place in order to remediate his home.

However, for counties with already stretched budgets, less property taxes could mean certain harm for county services.

But, for residents living with Chinese drywall, the law gives relief to harm they say they're still enduring.

"Chinese drywall, people who have it have lost all of their equity in their home," Kampf explains.

The new law says the drywall must have significant impact on the property's just value, and the buyer didn't know it was in the home when they bought it.

The government is also looking into possible health problems linked to the drywall.

If you want more information on this bill go to http://www.flgov.com/release/11643.