Mon March 31, 2014
New Flood Maps By FEMA Cause Concern for Delaware Property Owners
Thousands of property owners in Delaware are grappling with the new changes in the flood maps by the Federal Emergency Management Agency which will mean a hike in flood insurance rates.
The rate increase has been capped by lawmakers at 18 percent and in some cases at 25 percent for certain categories.
And FEMA is also offering relief to some while drawing other into new insurance requirement.
Wilmington News Journal reports that Chip Guy with Sussex County said that the time tables for new maps are "a moving target" with the effective date set for March of next year.
That is months later than initially expected.
Meanwhile, in New Castle FEMA’s new maps should take effect countywide in February of 2015.A