7/17/14 – 5:22 A.M.
Putnam County residents got a look at FEMA’s proposed new flood insurance maps last week. The Putnam County Sentinel reports the big topic of conversation was how people living in the “high risk” flood zone will be affected.
People who live in older homes built before the first Flood Insurance Rate Map have been getting subsidies to keep their flood insurance costs down. Residents learned at the meeting those subsidies could be phased out over time.
Older buildings not used as a primary home or used for a business would receive a 25 percent annual increase on their insurance rates.
There is a 90-day appeal process once the new flood maps are put on the federal registry.
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