Communities that participate in the National Flood Insurance Program (NFIP) write local ordinances regulating the permitting of new construction, and the permitting of repairs/improvements to existing structures. This is intended to reduce the public risk of losses due to flooding. Proposed repairs/improvements to structures that are below the minimum elevation required by local ordinance are subject to a budget limitation that is 50% of the value of the structure (the 50% Rule). The preferred method of establishing the value of such a structure is a professional appraisal made by a state certified appraiser. This is specialized appraisal work done by only a few qualified appraisers. Ray Carroll is a specialist in making FEMA 50% Rule appraisals. In addition to his appraisal designations, he holds the CFM designation conferred by the Association of State Floodplain Managers. More information about this specialty is available for download at https://www.carrollandcarroll.com. Click on the Client Services tab at top right of our home page, enter the username “floodplain” and the password “manager”.

We might also look at the website under “Services”, “residential” and change the wording under “We specialize in:”  Instead of “FEMA permitting appraisals”, let’s say “50% Rule permitting appraisals”, and maybe add another, “Fractional interest appraisals”