Quote:
Originally Posted by Stu from NYC
Does this get passed on to homeowners as a higher bond?
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Unrelated to the current bond but who knows what else will change. The additional cost for developing an area should be passed on to new homeowners as a higher price. It offers potential relief from higher taxes for existing homeowners.
Simplified (possibly over-simplified) example:
- In order to build out the area south of 44, changes were required to the existing roads in the area. Some were improved, some were widened, some were created.
- The County essentially contracted with an outside firm to have the work done.
- Part of the 30% tax increase a few years ago was needed to pay for that work.
- With a higher impact fee, more of the cost of those infrastructure improvements will be paid by the developer and less will come from taxes.