Smithfield, VA · Member since 2012 · 90 posts · 27 votes
Just curious what everyone's thoughts are on this and what it means for investors. Obviously, in our area checking flood zones is critical, I'm just wondering if property in a "special service district" would deter or promote investment.
Depends on how well the funds will be allocated. I’d say it’s too early to tell. Would also be nice to know if this can lower flood insurance premiums.
These special service district neighborhoods seem like areas that are having pretty systemic problems, sunny day flooding is flooding without rainfall. I would think that problem would only get worse over time without some sort of intervention, not better. The new tax ability would enable raising funds to take some sort of action to mitigate, but then that reduces cash flow for the investor. So depends how one looks at it. Seems like a tough area for a long term strategy.