Ohio County's property tax base could take a major hit if Congress fails to act on either a delay or a change to the Biggert-Waters Flood Insurance Reform and Modernization Act of 2012.

The U.S. Senate late last month approved a four-year delay in the act, which removes taxpayer subsidies to the federal flood insurance program. The 67-32 vote reflects widespread alarm about changes in the act to shore up the program's finances. In many cases the changes produced unexpected, sky-high insurance rates that are unaffordable for many homeowners in flood-prone areas whose insurance has historically been subsidized by the government and other policyholders.

The bill approved by the Senate would delay for up to four years huge premium increases that are supposed to phase in next year and beyond under new and updated government flood maps. It also would allow homeowners to pass below-cost policies on to people who buy their homes. People who have recently bought homes and face sharp, immediate jumps in their premiums would see those increases rolled back.

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