Quote:
Originally Posted by manaboutown
The value of Hage's legislative initiative is Huge. A ballpark figure for a single year might be the number of new houses sold by the developer times the cost other developers pay in impact fees per house less the amount the developer pays per house.
$/year = Housessold X (Normal ImpactFee - TV ImpactFee). This is all money for the developer's purse - before income taxes.
Of course this means current residents and other taxpayers are picking up much of the tab for new development infrastructure.
|
But the new development is increasing the tax base each year.
At 5,000 new homes with an average sale price of 450K is over two billion dollars last year.
Homes built ten years ago have half the real estate tax. So the new home owners are substantially carrying the cost.