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Hillsborough Co. affected by flood insurance hikes

September 26, 2013
Associated Press

TAMPA, Fla. (AP) — Hillsborough County doesn't have a single house on the Gulf of Mexico and only about 2,000 that directly front a bay.

Nonetheless, there are thousands of other single-family homes — modest bungalows as well as million-dollar mansions — that could be hit with soaring flood insurance rates under a new federal law that takes effect Tuesday.

The Tampa Bay Times (http://bit.ly/1bf0zhK) reports the Hillsborough County Property Appraiser's Office released a map showing approximately 21,800 older homes that until now have qualified for lower, subsidized flood insurance premiums.

All of them could see their discounted rates phased out as a result of the Biggert-Waters Act, passed by Congress in an effort to return the National Flood Insurance Program to solvency.

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Information from: Tampa Bay Times (St. Petersburg, Fla.), http://www.tampabay.com.

 
 

 

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