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Impact Fee Freeze

April 1st, 2009 by flanews

Developing land could soon become less expensive.

A House Committee approved legislation to freeze impact fees for two years. Impact fees are levied by cities and counties on new developments. The municipalities use the money for new infrastructure like utilities and roads. Florida Association of Realtors Spokesman John Sebree said freezing the fees will speed up development.

Many communities around the state are rescinding impact fees right now because they realize that that extra cost is just too much for the buyer to handle, said Sebree.

The legislation passed its final committees stop in the House and is ready to be heard by the entire chamber.

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