Tax bases and unemployment figures appear to be holding strong against the blazes.
The financial health of localities affected by wildfires have shown signs of strength despite the difficulties and destruction the blazes have caused, according to a credit ratings agency.
S&P Global Ratings found that assessed property values and unemployment rates have for the most part improved in certain jurisdictions affected by fires during the past year.
The ratings agency also says this year’s fires have not led to any credit downgrades for local governments.
“We find that federal and state programs and fiscal backstops have helped with both immediate fiscal needs and the longer-term path to recovery in the wake of fires,” an S&P report notes.
ROUTE FIFTY
by BILL LUCIA
AUGUST 23, 2018