COMMENT OF THE DAY: WHY IT PAYS TO RAISE THOSE FLOODED MEYERLAND HOMES “Also, let’s remember that flood insurance pays out $250k for structure and $100k for contents max (and these Meyerland homes are pricey, so maxing out the payment is possible). So, paying $350k to raise a house to avoid a future claim is — long-term — a better use of money. Yes, the amount itself is a shock out of context. Yes, it borders on ridiculous that this is related to the 2015 flood. Yes, the tax base would benefit more from paying to knock down the house and build new million dollar homes, but this is a better solution than buying the properties and removing them from the tax base.” [travelguy, commenting on What Houston Will Spend To Raise a Few Floody Houses in Meyerland] Photo of 5150 Braesheather Dr., to be elevated: HAR
“but this is a better solution than buying the properties and removing them from the tax base.”
Houses don’t pay taxes, people do. If the owner was paid for the house and moved someplace else nearby, they’d still pay taxes to the same entities.
What does the phrasing on the HAR listing for the Brasheather house mean — whomever buys the house now “remediated and as-is” can later expect that the home will be raised at no cost to them or does the sale not finalize until after the house is raised? And then how does HCAD appraise value of the new, raised home? I’d think the new owners would be in for some serious sticker shock on their year two tax bill.
My first thought is that raising a home might protect the physical property, but it doesn’t remove it from the path of floodwaters. A flooding event could still strand a family, potentially putting them in a life-threatening situation, from which others would have to rescue them. Tax roll aside, is this the right thing to do?
@Nice Neighbor – This is the argument friends of ours are making for a buy out and not just money to raise the house. They do not want to lift or move back as they don’t want to be in the same situation, waiting for a rescue boat. Even if they are a dry island in the storm.
What is the basic insurance price of flooding in Houston? Due to heavy rain, most cities or houses are affected by the rain. And most are trying to lift and raise their house in Houston.