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Thu April 10, 2014
FEMA's New N.H. Flood Maps Could Spell Insurance Woes For Some, Relief For Others
The Federal Emergency Management Agency released new preliminary flood maps for New Hampshire on Wednesday. These updated flood maps could affect property owners in flood hazard zones from Coos County to Keene, to the Seacoast.
Newmarket is a former mill town, anchored along the Lamprey river. There, building inspector Mike Hoffman says he expects the more accurate flood maps will be good news for some, bad news for others. He says “there will be some people coming out of floodplains, and some people going in.” Those coming out of flood hazard zones would no longer be required to purchase flood insurance, Hoffman explains, while those who find themselves in the flood zones will find themselves with a hefty new bill.
That’s because FEMA’s flood maps are the basis for the National Flood Insurance Program. The NFIP plans to increase rates over the next few years, in the wake of the Biggert-Waters flood insurance Reform Act of 2012.
The maps are still in a preliminary stage. FEMA will hold public hearings in New Hampshire next month.