Pinellas County Property Appraiser & Pinellas County Government & Pinellas County Municipalities Biggert-Waters Flood Insurance Planning Session Organizational Meeting October 16, 2013

Agenda 1. Purpose and Introductions 2. Biggert-Waters Review Pat Latshaw, VP/Principal Flood Coord. Wright Flood Insurance 3. Property Appraiser Concerns Pinellas County Tax Roll Information Analyzing the market in affected areas What info from the tax roll do you need from the Property Appraiser? What info do you have that might help with market analysis? Discussion items Preparation and adoption of new maps (2014-2015) CRS ratings for the future Should we develop a central data repository? Certificates of Elevation/ Building Elevations Open Discussion 5. Review of Action Items

Pinellas County

North County

Mid County

South County

Pinellas County Commercial Pre-FIRM Property In High Risk Flood Zones

Sample Rates by Elevation 0 ft. below BFE AE Zone 10 ft. 8 ft. 4 ft. 2 ft. below BFE 6 ft. below BFE $2,563 subsidized $1,835 Full Risk Rate $2,563 subsidized $6,400 Full Risk Rate $2,563 subsidized $15,000 Full Risk Rate 3 Homes in Flood Zone with 10 Foot Base Flood Elevation $250,000 coverage + $100,000 contents + $1,000 deductible

Florida Wide Statistics Florida has 268,646 affected properties - three times as many as any other state, including: 103,256 primary residences will increase 20% per year until the full risk rate is reached. 36,807 non-primary residences will increase 25% per year until the full risk rate is reached. 10,964 business properties will increase 25% per year until the full risk rate is reached. More than 110,000 multi-family and condominium properties that are hanging in limbo because FEMA has not determined how the removal o their subsidies will be implemented. Floridians who purchased property in high risk zones since July 6, 2012 are subject to full risk, actuarial rates upon their next annual renewal even though they had no warning at closing because the rates were not available and no disclosure was provided. Flood insurance reform threatens to stall Florida's fragile, but recovering real estate market after Floridians lost over $855,000,000,000 in market value during the years from 2007 through 2012.

Pinellas County Demographics Affected Pre-FIRM Single Family Residential: 33,141 Median Just/Market Value: $132,245 Number with Just/Market Value over $1,000,000: 253 Median Size of Living Area: 1,430 Sq. Ft with 2 baths Median Size with Porches, Garages included: 1,995 sq. ft. Number with Disability Exemptions: 328 (non-vet) + 669 veteran Number with Low Income Senior Exemptions: 1,106 Number without Water Frontage or Water View: 22,182

Pam Dubov, CFA, CAE Pinellas County Property Appraiser www.pcpao.org Contact Us: Fax: 727-464-3448 Email: pam@pcpao.org (Subject: FLOOD INS)