Flood Premiums Skyrocket
I am surprised there has been so little publicity and complaint about the increased flood insurance premiums since FEMA has remapped flood zones in Rockaway. My annual premium of less than $400 for more than a decade will be increased to almost $2000 for the coming year.
This will place an unprecedented burden on homeowners whose taxes and homeowner premiums have been escalating at rapid rate for the past several years. Additionally, prospective “buyers can be discouraged because of the ongoing expense of maintaining these policies which are only likely to increase over the years.
Would the editors of The Wave consider doing a series of stories on how these new “flood” zones were determined and whether they are justified? Also why have no local, city or state officials made us aware of these changes? I believe the Mayor was notified in August 2007, but I have seen no information or reaction on the part of the planning board or any city, state, or federal officials.
This increase amounts to a silent tax on many properties near the water.
ROSE MARIE CURLEY