Who foots bill for wildfires?
Cost in Colorado at $67m so far
Firefighters continue to put out the Colorado wildfire, where the cost to extinguish the flames has reached $67 million so far. Who covers that bill?
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Alison Kosik
New York
:53-1:09
Alison Kosik
New York
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Firefighters in colorado continue to make progress against the a handful of wildfires there.
The waldo canyon fire alone is blamed for destroying 346 homes.
Alison kosik explains that while the damage adds up, so does the bill to cover it.
--REPORTER PKG-AS FOLLOWS --
THE COST OF FIGHTING THE WILDFIRES IN COLORADO IS NOW ESTIMATED TO BE $67 MILLION DOLLARS.
THE FEDERAL GOVERNMENT IS PICKING UP A BIG PORTION OF THAT BILL, SO YOUR TAX DOLLARS ARE INVOLVED.
THE BIGGEST FIRE IS BURNING IN COLORADO SPRINGS.
AND SO FAR IT'S COST $11 MILLION JUST TO FIGHT THE FIRES THERE.
THE CITY ISN'T GIVING ANY ESTIMATES YET ON PROPERTY DAMAGE OR BUSINESS LOSSES -- BUT SOME MAJOR TOURIST ATTRACTIONS HAD TO CLOSE FOR A FEW DAYS.
ALL OF THAT MEANS EVEN MORE MONEY IS BEING LOST.
IF HISTORY IS OUR GUIDE, THIS YEAR'S FIRES WILL LIKELY COST HUNDREDS OF MILLIONS OF DOLLARS.
LET'S COMPARE IT TO A MASSIVE WILDFIRE THAT STARTED NEAR COLORADO'S HAYMAN CAMPGROUND IN 2002.
UP TO NOW, THIS WAS THE STATE'S BIGGEST.
IT BURNED MORE THAN 137-THOUSAND ACRES.
IT COST $42-MILLION TO FIGHT THAT FIRE.
BUT THAT WAS JUST 20% OF TOTAL PRICE TAG -- WHICH HIT $207 MILLION DOLLARS!
PROPERTY LOSSES MADE UP THE MAJORITY -- BUT OTHER COSTS LIKE REPAIRING WATER SYSTEMS -- PLUS LOSSES IN BUSINESS AND TAX REVENUES ADDED TO THE FINAL TALLY.
SO IT COULD BE YEARS UNTIL FULL COSTS FROM THIS YEAR'S FIRES ARE KNOWN.
I'M ALISON KOSIK IN NEW YORK
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