Fla. flood insurance hike delay approved, more permanent solutio - WFLA News Channel 8

Fla. flood insurance hike delay approved, more permanent solution in the works

Posted: Updated:
NEW PORT RICHEY, FL (WFLA) -

Angela Leonardo and her husband worry rising flood insurance rates will force them from their New Port Richey home. But if their insurance jumps from $1,100 a year to $8,000, she says there's no way they can stay.

Congress took baby steps this week toward helping homeowners like the Leonardos, but a real fix is still in the works. The national flood insurance program is in financial distress, so congress let a federal subsidy that kept rates affordable expire in October. Since then, thousands of property owners have received renewal notices with shocking increases.

"I was devastated," Leonardo said.

This week, the U.S. House of Representatives voted on a bill that would delay the increases until Sept. 30. The Senate approved the bill Thursday night. But this is only temporary relief, and it wouldn't help owners of second homes or small businesses.

Read: Attorney General Pam Bondi's letter to Congress about the flood insurance rate hike problem.

Congresswoman Kathy Castor says the delay is a step in the right direction.

"That's just a modest step ... but still, helping 2 million Floridians, that's very important," Castor said. "But the larger issue remains to be dealt with. How do you make it affordable? How do you deal with the sales of individual properties?"

Meanwhile, the Senate is working on a bill that would delay the hikes for four years. The goal was to vote on that bill this week, but that didn't happen. The Senate is in recess all of next week, so the earliest the bill could go to a vote now is Jan. 27.

  • 8 On Your SideMore>>

  • Pinellas homeowner ends up the loser after local government mistake on property taxes

    Pinellas homeowner ends up the loser after local government mistake on property taxes

    Tuesday, July 22 2014 5:59 PM EDT2014-07-22 21:59:58 GMT
    This Preservation land is at heart of homeowner tax dispute in PinellasThis Preservation land is at heart of homeowner tax dispute in Pinellas
    Melanie and Jeffrey Cornwell should have been getting a tax break for years on part of the homestead property in Dunedin they call their "little piece of Heaven." But due to a mistake at the Pinellas Property Appraiser's Office, they won't see any rebates for previous taxes, just a break on future tax bills.
    Melanie and Jeffrey Cornwell should have been getting a tax break for years on part of the homestead property in Dunedin they call their "little piece of Heaven." But due to a mistake at the Pinellas Property Appraiser's Office, they won't see any rebates for previous taxes, just a break on future tax bills.
  • RECALL: Fruit at Trader Joe's & Costco

    RECALL: Fruit at Trader Joe's & Costco

    Tuesday, July 22 2014 5:45 PM EDT2014-07-22 21:45:14 GMT
    A Central California company has issued a voluntary nationwide recall of specific lots of its fresh peaches, plums, nectarines and pluots over concerns of possible listeria contamination.
    A Central California company has issued a voluntary nationwide recall of specific lots of its fresh peaches, plums, nectarines and pluots over concerns of possible listeria contamination.
  • How thieves clone your credit cards

    How thieves clone your credit cards

    Tuesday, July 22 2014 9:15 AM EDT2014-07-22 13:15:02 GMT
    File photoFile photo
    Patricia Stack didn't know her debit card number had been stolen until she tried to withdraw money from her bank account. "A couple weeks ago I tried to get money out to pay my power bill and there was nothing in it."
    Patricia Stack didn't know her debit card number had been stolen until she tried to withdraw money from her bank account. "A couple weeks ago I tried to get money out to pay my power bill and there was nothing in it."
  • Sign up for WFLA News Channel 8 Email Alerts

    * denotes required fields






    Thank you for signing up! You will receive a confirmation email shortly.
Powered by WorldNow

200 South Parker Street, Tampa, FL 33606

Telephone: 813.228.8888
Fax: 813.225.2770
Email: news@wfla.com

Can’t find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.