50% Rule Imperils Rebuilds in Hurricane-Hit Areas
Empire Appraisal Group
FEBRUARY 9, 2023
In response, some local governments are seeking workarounds to help homeowners avoid wholesale reconstruction, but because the regulations are designed to prevent future flooding damage, federal officials seem unlikely to relax the rules. In Florida, a homesteaded property’s assessed value can only increase by a maximum of 3% a year.
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