Florida CFO Says Hurricane Milton Could Cause at Least $20 Billion in Damage

State and federal officials have warned that Milton could be the most destructive hurricane to hit the Tampa area in 100 years.

Waves crash against the Malecon promenade in Havana because of the passage of Hurricane Milton on Oct. 9, 2024. Yamil Lage/AFP via Getty Images

Florida’s chief financial officer warned that Hurricane Milton could cause damage totaling as much as $20 billion in the state as the Category 4 storm continues to churn toward the Florida Gulf Coast.

Milton is forecast to strike near the Tampa Bay area late on Oct. 9 or early on Oct. 10, according to forecast models from the National Hurricane Center. While it has weakened from a Category 5, officials say the storm is expected to hit the state as a major hurricane, meaning a Category 3 or greater.