Do you think the Flood Insurance Catastrophy of 2014 is only going to impact those rich folks?
Think Again.
Biggert Waters Flood Will Be Most Devastating to Modest Income Residents
And as a result, not just those individuals who are impacted will suffer…..entire communities will suffer.
Just as in Pinellas, it is owners of modest inland homes in Hillsborough County who will feel the brunt of the new flood insurance law.
The median size of the roughly 20,000 Hillsborough homes that will lose their lower, subsidized rates is 1,500 square feet, according to property appraiser data released Wednesday.
The median assessed value is $102,867. And the vast majority of houses — more than 80 percent — are not on the water.
A completely ridiculous situation ,,, Florida subsidizing the Carolinas , Louisiana and such … with 500% more paid in than received over nearly 40 years it should be half price by now ,, if the unspent money was invested with the gains put towards future subsidies… The state of Florida should opt out of the system and start our own insurance…
This upsets me almost as much as my gas tax money going to subsidize New Yawkahs subway rides or the big dig in Bastaan… We only get about 65% of our gas tax money redistributed to us from the feds.
and the bigger point it the economic irrationality of it all…..
Matt , thin skinned as usual ,, I’ve been banned (effectively) again … why not just turn off comments if they bother you so much.
don’t know what you mean…all comments are posted…..