Flood Zone Properties’ Value Doubles with New FEMA Maps

The assessed value of properties in New York City that lie within Federal Emergency Management Agency’s (FEMA) newly proposed 100-year floodplain maps is $129 billion, more than double the value under previous floodplain maps, according to a new analysis. The analysis was published today by New York City Comptroller Scott M. Stringer. Stringer’s analysis showed that under the 2010 floodplain maps, the value of buildings inside the 100-year flood zones was approximately $58.6 billion. better protect homeowners from the effects of flooding on their homes and their insurance premiums. “This new data demonstrates clearly the need for New York to invest in resiliency projects to protect those in the flood zone,” said Stringer.