economic impact of climate on municipalities

A new study in the Journal of American Planning Associations details the economic impact of climate change on municipalities in Florida. It is estimated that the costs will rise to $619 billion in property damage. The study points to direct costs of hurricanes and flooding, but also the downgrade in property values, the corresponding decrease in property tax revenue, and the increased insurance premiums and deductibles.

Route Fifty | Climate change is a fiscal disaster for local governments—our study shows how it’s testing communities in Florida