FEMA drops Tampa flood insurance rates - Tampa Bay Business Journal:

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Residents will see a decreasde in their standard flood policy rateeand that’s attributable to efforts by city a release said. The Community Rating System, which is administeredf by the , awardzs points to a community for the activities it undertakes to address floodinf andother hazards. Tampas has been awarded a Class 6 which willreduce residents’ premiums by 20 percen off the standard policy rates.
Tampa’ss rating was due to efforts that have been undertakenj to solveflooding problems, increase the amount of publidc land in the floodplain, the enforcement of rules for construction in the and educating the public on the hazards of building in the floodplainn and the importance of flood Ratings directly affect Tampaw residents, not only becauser they reflect increased effortsw to reduce flooding but also becausde better ratings translate into lower costs for flood Each rating level below Class 10 reduces flooxd insurance costs by 5 percent, a release from the city Policyholders were receiving an average discount of $105 off the standard flood policy rates.
On May 1 that discount jumped up to an averageof $142 per policy. The totak savings amount to almost $3.7 million a year for floode insurance policy holders inthe city, which, accordin to the release, is among the highestr average savings in the nation.