PASCAGOULA, Mississippi -- Jackson County will not be exempt from the changes causing higher costs for National Flood Insurance Program policies, supervisors said this morning.
The Biggert-Waters Act, which was meant to overhaul the in-debt program and make it self-sufficient, was signed into law last July.
The act ends flood insurance subsidies to homeowners by 2014 and generally increases premiums as flood insurance risk maps are updated.
The new rates are meant to reflect true flood risk, but many have argued the price hikes will devastate property owners. There's a national debate over how to handle the increases, with some suggesting the hikes be pushed back.
Jackson County Supervisor Mike Mangum, board president, asked county staff this morning if the county would be affected.
County Administrator Brian Fulton told him it would.
"Everybody's flood insurance is going to increase," Fulton said, especially those in special hazard zones.
"It's my knowledge that we don't have many of those properties owned by the county," he said, so the county's impact should be less significant.
The county's new general services complex building in Pascagoula shouldn't see too much of an increase "because of the way we built it," Supervisor Jon McKay noted. "But everything is going to go up, no doubt about that."
Also at Monday's meeting, supervisors:
- Refunded 2 bonds from 2005 at a lower interest rate to save about $275,000 over the life of the bonds.
- Accepted Kennedy Lane as a county road in District 1.
- Commissioned Dennis Seymour and Ian Pehnke into the sheriff's reserves.
Source: http://blog.gulflive.com/mississippi-press-news/2013/05/jackson_county_will_also_pay_m.html
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