Quote:
Originally Posted by bizaro86
Plus, I don't think the government has a cap on the value of a principal residence they'll pay for the recovery of under disaster relief. (IIRC, is that what happened in 2005?) So taxpayers may end up rebuilding/restoring damage to riverside mansions. I don't think there was any means testing in '05, but I'm not positive.
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No there is a cap actually. One guy I was helping out who recently did a 600K reno on his basement said that in 05 the replacement value was hardly that. He had a huge flat screen tv (back then they were big bucks) and he said they gave him a couple hundred bucks for it. Something like it would have bought a 32 inch crt tv.
It's not like this guy needed the money but the point is there's a cap on replacement for everything.