Categories: Personal Finance

Here’s how much extreme weather costs taxpayers

The Cost of Tornadoes

High winds and tornadoes that made their way across Iowa, Nebraska and Illinois in June 2017 caused widespread destruction, amounting to $1.5 billion in economic costs, according to the NOAA National Centers for Environmental Information. Tornado outbreaks and wind damage that affected Midwestern states in March 2017 left nearly 1 million residents in Michigan without power and cost an estimated $2.3 billion.

Minnesota and the upper Midwest also endured severe hailstorms in summer 2017 that left many buildings and vehicles damaged. The cost of that hail and wind damage came to $2.4 billion.

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