Los Angeles agency reveals estimated economic impact of deadly wildfires as infernos still rage
Fox News
The Los Angeles Economic Development Corporation estimates the recent deadly wildfires have caused more than $50 billion in property damage.
The flames caused approximately $53.8 billion in property damage based on market value, and approximately $28 billion in property damage based on recorded value, according to the LAEDC. Alexandra Koch is a breaking news writer for Fox News Digital. Prior to joining Fox News, Alexandra covered breaking news, crime, religion, and the military in the southeast.
Potentially lost taxes will account for nearly $466 million, according to the assessment.
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