Tuesday, October 23, 2007

Builders Fear Increase Impact Fees

Today Orange County commissioners are meeting to discuss an increase in impact fees from $7,000 to $11,289 and Seminole County looking for increases as well. Builders warn the counties this may further burden the slow real estate market. The impact fees are charged to the builder which pass through expense to buyers. Impact fees are used by local goverments to offset new roads, schools, and parks. If Orange County passes the 69% increase it would be the highest fee in the state.