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Originally Posted by Bill14564
I believe that is 40% of the maximum justifiable charge, which doesn't necessarily equate to actual cost.
Can road impact fees be legally spent on any of the things you mention? And are you sure the developer didn't build the Villages fire stations (that's an honest question, I don't know).
Not saying the developer isn't getting a good deal, they are, but Sumter County and Wildwood are definitely benefiting also. They benefit directly from the increasing number of tax payers and indirectly from the increasing number of customers in local businesses. Everybody seems to be winning at the moment.
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I'd like to see the planning for how the county will manage the incremental property taxes the county will collect as a result of expansion.
The following model is very conservative considering the current higher rate of construction and increase in average sell price of new homes.
Estimate they're closer to 5,000 homes per year@ $350K+ sell price currently. At that rate, the county will collect over $100M in incremental tax revenue before the roads completed the next 5 years