The Mayor of Raleigh, NC is planning to move forward to raise impact fees on builders and developers of new housing in the city of Raleigh.
While it may not be a "politically correct" thing for a realtor® to support development fees, I feel this is the right approach. I would like to see new construction should pay its fair share of the impact it will have on roads, parks, water and sewer facilities and other infrastructure.
Currently the impact fee in the city of Raleigh, NC for a 2,500 to 2,700 square foot home is about $1,200. Mayor Meeker plans to raise it to about $2,500. While this doubles the fee it will not have a huge impact on the final price of a new home.
The mayor's opponents have said that this will slow growth in the Raleigh, NC housing market which is feeling the effect the housing market slowdown and the recent mortgage industry problems. I am not favoring slowing our growth, but I believe it should be done with proper attention to the cities ability to pay for and to support the growth. And it should be done in a fair manner.
While it is true that everyone can benefit from growth, I do not believe the numbers have been equitable in Raleigh for some time
I would like to hear how others feel about impact fees and how much they are in some other areas of the country.