Over the past couple years more and more storms impacted regions of Florida and other states significantly, and with that reconstruction, rehab, and repair has become an increasing everyday problem for homeowners and building departments alike.
FEMA prohibits buildings which are not in compliance with the current elevation requirements (minimum of one foot over base flood elevation (BFE)) to be substantially be improved or repaired.
FEMA rules and regulations for Substantial Improvement/Substantial Damage (SI/SD) are outlined in FEMA publication 758 (P-758). Local building departments have to implement the rules into their local ordinances to comply with FEMA and more specific the Community Rating System (CRS). The CRS applies credits for compliance in return for discounts at the National Flood Insurance Program (NFIP). Municipalities not implementing the rules correctly and/or insufficiently, risk losing NFIP discounts for the entire community and with that affecting every homeowner.
One of the rules building departments have to comply with, is the 50% FEMA Rule Appraisal and in P-758, FEMA suggests four methods of valuation. Because the current language in P-758 leaves the homeowner and most often even the building department at odds with the correct interpretation, specifically the interpretation of “market value”, the implementation of the 50% FEMA Rule is often confusing and cumbersome.
Patricia Staebler has been specializing on the 50% FEMA Rule Appraisal for over a decade and consulted and guided homeowners through the process in cooperation with their designers/architects and contractors. She is one of a few appraiser-members of the The Appraisal Institute concentrating on FEMA work and has authored articles and seminars educating her peers, building departments, contractors and communities. Examples of articles are linked below.
- The 50% Fema Rule Appraisal
- Excerpt from The Insider May 2019 (Association of State FloodPlain Managers)
Patricia also provides consulting services for municipalities throughout the State of Florida. The consulting services for counties and/or cities include appraisal work, appraisal review, education offerings, expert witness and litigation services.
For more information please contact our office or reach Patricia direct at 941.705.0123.
