What are Impact Fees/Adequate Facilities Taxes?
I’m selling a new construction home and my buyers have to sign an impact fee disclosure, what does that mean?
Brett Ratkowski
Last Update há 3 anos
New developments create a demand for additional public services and infrastructure. Local governments may have difficulty financing the services and infrastructure through traditional means such as the local option sales tax and property tax. Some local governments utilize adequate facilities/development taxes and impact fees to help finance the additional public services and infrastructure needed by new developments.