In 2012 Congress passed the The Biggert-Waters Act (B-W12). The ramifications of this reform act may substantially increase your flood insurance premiums and affect you in one or more of the following ways:
As of January, 2013, properties that are non-owner occupied 80% of the year lost their grandfathered flood insurance rates upon renewal of the policy.
Effective October, 2013, the grandfathered rates for all commercial properties and newly purchased homes in a flood zone will begin to be phased out.
Effective in 2014, the grandfathered rates of flood insured properties of year round residents will be phased out.
These changes will occur on a percentage basis of 20%-25% each year until actuarial rates are achieved. More information may be found on the FEMA website at http://www.FEMA.gov
In 2010 the 10 beach associations in Scituate united to form the Scituate Coastal Coalition, and have been active in issues pertaining to property owners along the 22 miles of our coast. This includes approximately 2,000 homes, and 25% of Scituate's tax base. These numbers will increase with the revised FEMA maps.
The impact of these changes will forever alter the character of Scituate. The financial impact will result in decreased property values leaving homeowners and business owners unable to afford the new flood insurance premiums and/or remain in Scituate. This will diminish Scituate’s tax base, negatively affecting services including schools, Fire, Police Departments and our towns’ vital infrastructure.
What can you do?
We urge you to write (or better yet, email) and call public officials including our Board of Selectmen, Massachusetts Senators and Representatives. We have included a sample and contact information for your convenience.
AFFORDABILITY QUESTIONS -
PLEASE SUPPORT THE PENDING LEGISLATION IN CONGRESS
I ask for your support of a sustainable, fiscally responsible National Flood insurance Program that protects the businesses and howmeowners who built according to code and have followed all applicable laws. However, changes made to the NFIP in the Biggert-Waters Act of 2012 threaten to harm the very citizens the program was designed to protect.
(1) Congress can amend the Biggert-Waters Act:
(2) FEMA can work with local stakeholders to continue to develop and refine maps to accurately reflect flood risk in each affected community by taking into account non-accredited seawalls and other features that afford flood protection.
Thank you for your consideration.
U.S. House of Representatives