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Thousands of Pinellas homes face flood insurance rate hike

Thousands of Pinellas homes face flood insurance rate hike

PINELLAS, Fla. (TBO.com)- More than 33,000 single-family homes across Pinellas County, or 13 percent, are at risk of seeing their flood insurance rates spike this year, according to new figures compiled by the Pinellas County Property Appraiser’s Office.

For those who think the federal government’s reform of the National Flood Insurance Program will burden only the wealthy few that live on the water, Property Appraiser Pam Dubov suggests a closer look.

About 22 percent of all homes within the city limits of St. Petersburg could see their rates double or, in some cases, increase tenfold. Those 15,324 older homes are in neighborhoods that abut the water, such as Shore Acres, but inland areas on the northwest side of town aren’t exempt.

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