Government Affairs Local Update
From the Desk of Troi Bachmann
Joint Government Affairs Director
Potential Insurance Rate Increase:
In the last days of 2018, the North Carolina Rate Bureau presented a request to state Insurance Commissioner Mike Causey to increase homeowners’ insurance rates an average of 17.4%. This is the second rate increase in two years. Any rate increase will negatively impact the state’s real estate industry as just a few percentage points increase in insurance rates can mean hundreds of dollars in additional costs borne by homeowners. Some communities across the state could see up to a 30% increase. NCHBA is working on developing a Call for Action at this time.
SAVE THE DATE for NCHBA Legislative Days:
This year, NCHBA Legislative Meetings will occur May 21-22 in Raleigh, NC! Come advocate for your industry with your fellow HBA members from across the state.
Forsyth County UDO Update: Winston-Salem/Forsyth County Planning will be working in the next year to make updates to the Unified Development Ordinances. These updates are intended to make the UDO more user-friendly. You can find an initial draft of the Code Assessment here, and more information about the project here.
Forsyth County GeoData: Winston-Salem/Forsyth County are in the process of moving away from the old GeoData platform. GIS Information can now be found at http://mapforsyth.org/.
Work Ready Forsyth: Forsyth County has applied to become an ACT certified Work Ready Community, which is a program aimed at linking workforce development with education and providing for the unmet labor needs of local employers. The certification process is a two-part system: the first aims to have individuals receive National Career Readiness Credentials and demonstrate an aptitude for workplace skills, and the second part is to have businesses in the community recognize this is a credential that can be used in hiring practices. Find out more about the program here
The opportunity zone program created by the Tax Cuts and Jobs Act provides preferential capital gains treatment for investments within designated low-income census tracts. This program aims to boost investment in economically distressed areas. There are certified opportunity zones located in Forsyth, Davie, Yadkin, Stokes, Surry, and Wilkes counties. You can find a map of the zones here. NC REALTORS® hosted a webinar with more information about Opportunity Zones which can be viewed here.
Troi Bachmann | Local Government Affairs Director
Mail: 4511 Weybridge Ln | Greensboro, NC 27407
Telephone: Office 336.808.4233 | Mobile 336.491.1316