FEMA 50 percent rule
The FEMA 50 percent rule requires a building in a flood hazard area to be brought up to current flood standards when repairs or improvements reach half its market value.
The 50 percent rule is a shorthand for two FEMA terms: substantial damage and substantial improvement. Both use a threshold of 50 percent of the building's market value before the work or the damage.
The City of Tampa states the rule in plain terms. If repairs or improvements pass half the home's value in an A or V zone, the house must meet current code, including elevation above the base flood elevation. This is why a remodel and a rebuild can look alike on paper. See building in a flood zone.
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