FLOOD RISK = FINANCIAL RISK: NEW JERSEY

As sea levels rise and storms intensify, New Jersey faces mounting risks to its people, homes, communities, and economy. Nearly 1.3 million New Jerseyans live in high flood risk areas; half of those people are lower income residents who may lack the resources to relocate out of harm’s way. By 2050, nearly 1 in 6 land parcels statewide will be exposed to high flood risk, threatening $435.9 billion in (today’s) property value and $5.9 billion in annual property tax revenue, according to a new analysis by Rebuild by Design. (A parcel is a privately or publicly owned piece of land, recorded in tax records.)

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