Submitted by SurfCityTom on Sun, 01/11/2009 - 6:42am.
will that affect the Insurance Industry? Insurance policies are issued on the basis of the structure's replacement cost.
If the tax value is $1,000,000 and the replacement cost is $250,000, then the policy should be issued on a replacement cost basis of $250,000.
Where does tax value feed into this formula?
and how