Land Use & Zoning
In Illinois, a floodplain designation on a property by FEMA affects real estate because:
AIt only affects the assessed value for tax purposes
BProperties in Special Flood Hazard Areas (SFHA/100-year floodplain) may require flood insurance, face building restrictions, and may have lower market values✓ Correct
CIt prohibits all construction on the property permanently
DIt exempts the property from all zoning regulations
Explanation
FEMA designates Special Flood Hazard Areas (SFHAs, or 100-year floodplain) on Flood Insurance Rate Maps (FIRMs). Properties in SFHAs: (1) require flood insurance if there is a federally backed mortgage; (2) face restrictions on construction and filling; (3) may have lower market values due to flood risk and insurance costs. Illinois has significant flooding risk, particularly in communities along the Illinois, Fox, and DuPage Rivers.
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