The Real Cost of Superstorms
It’s not just cleaning up the mess they leave behind, it’s the fact that by blowing away houses, they diminish the tax base that supports local schools.
In the January 25th edition of the New York Times, Alison Leigh Cowan writes: "(Superstorm Sandy)damaged tens of billions of dollars’ worth of real estate, especially in coastal areas of Long Island and New Jersey. As a result, localities can no longer expect to reap the same taxes from properties that have lost much of their value–in some cases, permanently.
read more