Wednesday, October 24, 2007

Orange County Impact Fees the Highest Florida

Both Orange County and Seminole County both have approved increase impact fees.

Orange County raised it from $7,000 to $11,829 for a single family home and will be the highest in the State. County Commisser plans to improve the schools systems overcrowded schools, and aging buildings. County Commissoner feels improving the schools system will strengthen Orange County Real Estate.

Seminole County will rise to $5,000 but remains the lowest in the region. Seminole County with some of the best schools in the area, will use the money to build another elementary school.

This means it will be more expensive to purchase new construction. New construction is historically higher than new resales, but into today market, new construction pricing is equal or better than resales.

Both new construction builders and Orlando Regional Association were opposed to the increase as increase in housing costs could prevent people from buying.