Quote:
Originally Posted by golfing eagles
Again, and for the 10,000th time----Whether county infrastructure costs are financed through the property tax or an impact fee makes NO DIFFERENCE WHATSOEVER to the developer. Any additional cost will simply be passed on to the new home buyer.
PS: If this issue finally gets resolved, what will you have to post about?  |
While this is true for homes would it be as true for businesses? A home might see an increase of up to $2,000 if the impact fee allocation was raised to 100% on the developer. On a $350,000 home this is a negligible 0.6% increase. Commercial properties pay considerably more. A 5,000 square foot restaurant would see an increase of about $90,000.
A developer could add $2,000 to the price of homes and still sell them as fast as he could build them. Would the developer have the same success selling the restaurant building at $90,000 more than what it sells for today? I don't know what commercial properties sell for or lease for but $90,000 doesn't seem like a negligible amount.
EDIT: I am not advocating for the status quo or a 100% impact fee. There has to be something in the middle that helps pay for more of the road impact without driving out new businesses entirely.