The costly homes on New York's Long Island and in the suburbs of San Francisco make governments in those areas particularly vulnerable to a change of fortunes resulting from rising sea levels, according to data from the Union of Concerned Scientists. (Photo: Shutterstock)
(Bloomberg) – Almost no city stands to lose as much money from climate change as Southampton, New York.
The affluent Long Island suburb — where the median price of a home for sale is almost $2 million — has the second highest level of its property-tax revenue at risk among municipalities with a high likelihood of chronic flooding in the next twelve years, according to data gathered by the Union of Concerned Scientists. Only Central Coast, California had more.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
