Flood 2013: Flood protection means costs in taxes, but savings on insurance

The Grand Forks flood protection system may be saving residents hundreds of dollars year in flood insurance premiums.

The system’s construction and maintenance is funded through property taxes, special assessments and a monthly utility charge — all of which can add up to less than an estimated flood insurance policy for a Grand Forks home.

Whether residents rely solely on the flood protection system or have flood insurance, both could prevent them from shelling out thousands of dollars to fix a damaged home.

To see a breakdown of the city costs compared to insurance premiums, click here.

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