Launceston Floods 2016

The City of Launceston's flood levee system performed above expectations during the June 2016 floods, and avoided losses of $216 million, according to an independent report released today.

The Bushfire and Natural Hazards CRC Research report said the upgrading of the levee system in 2014 saved the community more than four times the total investment in the levees.

"This investment in building the new levee system was found to be a sound economic decision based on the estimated costs at the time of decision making, alongside improved estimates of benefits from this study, the report states.