Impact Fee?

[Michaellinda]

Can anyone shed some light on what an Impact Fee is and a link to the nitty gritty details?

TYIA :faint:

[Bill14564]

Can anyone shed some light on what an Impact Fee is and a link to the nitty gritty details?

TYIA :faint:

Very simply, an impact fee is a one-time fee levied against any new construction to cover the impact the new construction will have on the existing infrastructure. Will a new house bring a family with children? Then there will be an impact to the school system. Will a new development bring enough traffic that a new signal is required or roads need to be widened? Then that cost should be distributed among the houses in that development. Will a new business create more traffic and require expansion of the existing roads? Then that business should help fund the road expansion that is required due to them building here.

Again, it is a one-time fee assessed to new construction to offset the cost of new infrastructure and expansion to infrastructure required due to that construction.

In Sumter County all we have is a Road Impact Fee. Here is a link to the current Road Impact Fee Schedule. (https://sumtercountyfl.gov/672/Road-Impact-Fees) You can also do a Google search to find the 2019 study that this schedule is based on.

[Bogie Shooter]

Can anyone shed some light on what an Impact Fee is and a link to the nitty gritty details?

TYIA :faint:

Impact fee
An impact fee is a fee that is imposed by a local government within the United States on a new or proposed development project to pay for all or a portion of the costs of providing public services to the new development. Impact fees are considered to be a charge on new development to help fund and pay for the construction or needed expansion of offsite capital improvements. These fees are usually implemented to help reduce the economic burden on local jurisdictions that are trying to deal with population growth within the area.Wikipedia