Property appraisers ask to cut value of Gulf property oil spill damage

Posted on June 10th, 2010 No Comments

In Florida, two elected property appraisers have approached state lawmakers to see if they can cut the value of real estate to reflect damage from BP’s oil spill.

As oil runs onto beaches near homes and hotels, property values have fallen nearly 50 percent. The appraisers held a conference with officials from Escambia Emergency Operations Center it may be too soon to tell change the value.

Officials did say that this oil spill will cause a significant decline in tourism, which is a large part of the economy of the area. A 10 percent decline in tourism could cut jobs for nearly 39,000 people.

If you or a loved one has had property damaged in the oil spill, contact the Gulf oil spill lawyers of Williams Kherkher by calling 800-821-1544.

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