The math is simple and cruel. The storm left fewer properties standing, often wrecking waterfront communities that paid the highest taxes because of the desirability of living near the water.
Unless shore towns from Rhode Island to New Jersey get a big influx of aid from the state and federal governments, which are themselves strapped for cash, they will have no choice but to raise taxes on homes and businesses that survived to make up for the loss. Even with federal reimbursement of 75 percent, the towns — many of which were already struggling before the storm — could still be on the hook for tens of millions of dollars.
More
2 comments:
Political BS! Just because it hit north instead of south makes no difference! FEMA averages storm hits per year and size to reflect their rates. We pay those rates, along with our individual flood insurance! raping us this year under the clause of Sandy is social robbery at its finest! F__K the US Government anymore. They need to be defunded.
Where are the insurance companies?
Post a Comment