Silver State Strategies: Does Nevada Need a Flood Hazard Disclosure Act?
Would Nevada home buyers benefit from a flood hazard disclosure act, which would legally require sellers and their acting agents to explicitly inform prospective home buyers if the property occupies a high-risk flood zone? Admittedly, it has been some time since Nevada experienced a significant flood disaster, but as history informs us, the region is not immune to such catastrophes. On July 8, 1999, a severe flood destroyed 369 Las Vegas homes and cost an estimated $20.5 million in total damages to both public and private property. Rural towns in the region have been affected by major floods as well. In September 2014, a flash flood damaged or destroyed a total of 139 homes in the cities of Moapa, Logandale, and Overton. Thus, despite the dearth of annual rainfall in the region (Nevada is the driest state in the nation), the risk of experiencing a flood disaster remains a legitimate threat.
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