Governor Malloy, in East Haven, touts fund for flood-threatened homes

Mar 21st, 2014 | By | Category: General

Standing at the foot of the town’s Beach House and facing Long Island Sound, Gov. Dannel P. Malloy spoke to the media Thursday to promote a new initiative aimed at providing homeowners threatened by coastal flooding with access to low-interest loans to help pay for home improvements.

For more on this story, visit: Governor Malloy, in East Haven, touts fund for flood-threatened homes – Top News – InsuranceNewsNet.com.

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One Comment to “Governor Malloy, in East Haven, touts fund for flood-threatened homes”

  1. joe salata says:

    The solution is to raise the property tax assessment on properties in flood zones/hazard areas from the current 70% of fair market value to 100%; this can be phased in over any number of reassessment cycles as is politically palatable, e.g., 10% every 5 year cycle to 100% at the end of the 15 year cycle. The additional taxes collected on these properties would be used by the communities for buyouts, emergency services response/training/prepareness or to repair public areas damaged by storms/sea level rise. This puts the burden on the homeowners at the core of the problem and not on the general taxpayer.

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