City of Tampa Receives Improved Community Rating System Score – Saving Customers Money
The City of Tampa has worked with the Federal Emergency Management Association (FEMA) and the National Flood Insurance Program (NFIP) to secure an additional discount to help offset rising flood insurance costs for residential and business property owners. The City of Tampa residents will now receive a 25 % discount on flood insurance policies purchased or renewed after October 1, 2019.
“This is great news,” said Mayor Jane Castor. “Not only has the stormwater improvements from the assessment fee seen dramatic success, but the steps we’re taking now are saving money for our customers while improving quality of life for all. We look forward to continuing to make investments in our sustainability and resiliency, not only through these improvements but ones that will stem from the P.l.P.E.S. project and the All for Transportation. Tampa is a city with unlimited potential and these investments today will pay off tenfold for generations to come.”
The reason for this discount is based on the recent flood improvements the City of Tampa has made, which improved our Community Rating System (CRS) score from a Class 6 to a Class 5 rating. The CRS ratings are based on actions by communities to mitigate flood risks through floodplain management activities and stormwater improvements that exceed the minimum national standards. Due to the innovative best practices, including resilient stormwater systems, green infrastructure, and enhanced flood capacity projects, the City has earned the Class 5 CRS rating. The City of Tampa is now ranked in the top 10% of insurance discounts received annually nationwide. The prior discount to City of Tampa property owners was 20%.