Tarpon Springs homeowners fear impending flood insurance rate hikes
On Riverside Drive near Kreamer Bayou, many of the residents have lived in their modest homes for decades. They have gotten by with jobs as handymen, construction workers and substitute teachers. Several are retired, living check to check off small pensions or Social Security.
All of them are worried about new flood insurance premiums scheduled to kick in Tuesday.
"Nobody is going to be able to afford it," said Paul Nicholas, 80, who pays about $5,000 a year for flood insurance on his small white house with green trim, which he said is at or below base flood elevation. "It's going to be like the recession all over again."
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