Quote:
Originally Posted by Bill14564
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.
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To make things even more interesting:
Sumter County recently paid 50 million to the developer for roads around Southern Oaks.
https://www.**************.com/2021/...southern-oaks/
Residents pay on average 40-50 thousand per home to the developer.
The developer is currently charged only about 1,000 per home.
I wonder who wins in this math paradigm?