Palo Alto residents and businesses will see a reduction in their flood insurance bills this year.
The discount is attributed to a higher rating the city of Palo Alto has received from the Federal Emergency Management Administration because of its flood management efforts, according to City Manager James Keene.
Palo Alto now has a rating of “six” instead of “seven,” which increases the discount property owners receive on premiums to 20 per cent from 15 per cent. It is the first city in Santa Clara County to achieve the 20 per cent discount level, Keene said.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of Invest for Property. The information provided on Invest for Property is intended for informational purposes only. Invest for Property is not liable for any financial losses incurred. Conduct your own research by contacting financial experts before making any investment decisions.
