Final answer:
Joining the Community Rating System mainly offers the benefit of lower flood insurance rates for policyholders by exceeding the minimum floodplain management standards.
Step-by-step explanation:
The benefits of joining the Community Rating System are primarily related to flood insurance cost and community resilience. One of the primary benefits is lower flood insurance rates for policyholders. This system allows communities to perform floodplain management activities that exceed the minimum National Flood Insurance Program standards, and in turn, residents can receive reduced insurance premiums, which highlights how the benefits are larger than the private benefits. However, the options of higher coverage limits, tax exemptions, and access to additional disaster relief funds are not standard benefits of the Community Rating System itself.