[tophcfa]

Congratulations are in order for the new Sumter County Commissioners. Today’s Daily Sun reported that the developer volunteered a 40% impact fee increase on all new homes built in the Villages. That certainly would not have happened if the 5 prior commissioners were still in office. Let the independent analysis and negations finally begin as a starting point has been identified. I will be interested to learn how much of the 25% property tax increase can be rolled back (revenue neutral) under that scenario.

Here is hoping that all parties involved can agree on the appropriate impact fee increase/property tax roll back that strikes the proper balance between putting the financial burden of new development on existing county residents and those responsible for the development.

[JP]

I wonder how much that is going to increase the cost of a new house in Sumter County?

[Bilyclub]

But all these other new developments are getting a free pass? That's not right either.

[kansasr]

Originally Posted by JP

I wonder how much that is going to increase the cost of a new house in Sumter County?

Since the current fee is $962 and 40% would be $385 more, they will probably round up the price by $5000

[vintageogauge]

This will have no affect on the 7,000,000 sq. ft. of industrial space TV is building, nor will it affect their commercial and medical development, nor will it affect condos and apartments TV may be building just outside of The Villages. They have a lot going on in Sumter so passing on a thousand dollars or so to each new home will not affect their bottom line.

[dewilson58]

Originally Posted by tophcfa

I will be interested to learn how much of the 25% property tax increase can be rolled back (revenue neutral) under that scenario.

Napkin Math: $1,000 of new Impact Fee will rollback 1% tax increase.



So, a $25,000/house impact fee is how the three Promise Givers will rollback 100% of the increase.


I did not read the article, but if The Villages offered a 40% increase, or about $400.......taxpayers might get 1/2 of 1% tax rollback.
Oh wait, inflation just ate that up.

[Bilyclub]

Thankfully I don't think there are any TIF's in Sumter.

[Velvet]

Originally Posted by dewilson58

Napkin Math: $1,000 of new Impact Fee will rollback 1% tax increase.



So, a $25,000/house impact fee is how the three Promise Givers will rollback 100% of the increase.


I did not read the article, but if The Villages offered a 40% increase, or about $400.......taxpayers might get 1/2 of 1% tax rollback.
Oh wait, inflation just ate that up.

Any amount of roll back is better than none. Inflation is not dependent on roll back.

I appreciate the move by the developer.

[Two Bills]

Election promises are like lead balloons.
They don't fly.
Never have. Never will!

[ureout]

this should have never been an issue.. the developer should foot the bill.. why make established homes pay for it... especially since they already paid when their development was built

Originally Posted by tophcfa

Congratulations are in order for the new Sumter County Commissioners. Today’s Daily Sun reported that the developer volunteered a 40% impact fee increase on all new homes built in the Villages. That certainly would not have happened if the 5 prior commissioners were still in office. Let the independent analysis and negations finally begin as a starting point has been identified. I will be interested to learn how much of the 25% property tax increase can be rolled back (revenue neutral) under that scenario.

Here is hoping that all parties involved can agree on the appropriate impact fee increase/property tax roll back that strikes the proper balance between putting the financial burden of new development on existing county residents and those responsible for the development.

The developer blinked first. Congrats to the new commissioners but the impact fee should have been raised to 100% of the recommended fee. Hope this is only round one in the negotiation. Property tax should drop by 8 percentage points.

Developer threw the cheerleaders under the bus. LOL

[crash]

Originally Posted by JP

I wonder how much that is going to increase the cost of a new house in Sumter County?

About $400 maybe the Developer will just eat it.

[dewilson58]

Originally Posted by John41

The developer blinked first. Congrats to the new commissioners but the impact fee should have been raised to 100% of the recommended fee. Hope this is only round one in the negotiation. Property tax should drop by 8 percentage points.

Share your math.

[dewilson58]

Originally Posted by Velvet

Any amount of roll back is better than none. Inflation is not dependent on roll back.I appreciate the move by the developer.

I kno, never said it was.

[J1ceasar]

Very little. For the average new homeowner you're probably talking 7 to 10 dollars a month on a mortgage so the reality is it hardly affects the sales of the home but it does take a chunk of money out of the developers pocket before the sale is finalized