We are not experts on the FEMA 50% Rule.
But we do have a great deal of knowledge on the FEMA programs and building rules and regulations as it pertains to Sanibel real estate.
What Is the FEMA 50% Rule?
The 50% Rule is a regulation of the National Flood Insurance Program (NFIP) that prohibits improvements to a structure exceeding 50% of its value unless the entire structure is brought into full compliance with current flood regulations. This may include elevating the structure, using flood-resistant materials, and proper flood venting.
Resource for more information:
FEMA Town Hall at City of Sanibel Meeting, December 8, 2022
An overview of the FEMA 50% Rule Sanibel Island starts around the 8-minute mark. At the 1 hour and 16-minute mark, there is more information regarding the height of elevation requirements and FEMA financial assistance for elevating a home.
How To Determine Structure Value
There are two ways to determine the value of your structure as it pertains to the FEMA 50% Rule Sanibel Island.
- Visiting the Lee County Property Appraiser Website
- Hiring a Private Appraiser Licensed in Florida
Below, we outline how to specifically find your building cost value using Leepa.org.
How To Find Your Building Value on Leepa.org
Step One: Visit www.leepa.org/
Step Two: Scroll to the center of the page and enter your property address where it says “Quick Property Search”
Step Three: After the page loads, click “Parcel Details”
Step Four: After the page loads, scroll to the “Values” Tab and click the chart graphic next to the left of the “Values” heading (circled in red below).
Step Five: A printable document will open in a new tab that looks similar to the image below. The building cost value of the property is located in the lower right corner under “Value Summary”
Important Note: The NFIP basis for substantial improvements is based only on the value of the structure and does not include land values, or the value of “Extra Features” such as a pool, dock, etc.
During the FEMA Town Hall Meeting (video linked here), the City of Sanibel, City Manager stated there is no variable percentage added to the building cost value provided by Lee County Property Appraiser.
Questions About The FEMA 50% Rule
I’m sure you have questions about the 50% Rule that are more specific to your property. I’m happy to answer what I can and provide additional resources as well. Please don’t hesitate to reach out via email, Susan@McCallionRealty.com or call us at 239-472-1950.
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