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Monday, April 07, 2014
Fruitland’s Moratorium on Its Impact Fees on New Development Seems An Immediate Success
Almost two months now have passed since Fruitland's City Council voted to stop the special "impact fee" surcharge on new development. Word is that for the first time in many months, new homes are underway or in final planning. The moratorium will continue until June 30, 2016 under the ordinance that was passed by the City Council in February.
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10 comments:
Taxes are higher in Fruitland than in da bury.
Jobs are non-existant most everywhere on the shore - this will help if you're building for speculation....
Now, if Wicomico officials would wake-up and waive all of their Developmental fees, we might be onto something positive to invigorate the economy.
10:51 --
That's what Bob Culver proposed in March -- and also in 2011 -- but Pollitt does not want to do it.
It's a great proposal if you can tell us from where you will replace the lost revenue.
Impact fees for new homes are unfair. Why should a family who wants a new home be penalized? Other families who move to the area and rent or buy a "used home" are not required to pay any impact fee. A small transfer tax fee on all real estate would be the most fair system...not one to single out a family who wants a new home.
With all the homes under foreclosure, why would anyone build a new home unless they just have more money than good sense?
Can't see this working to stimulate the economy. What we will have is nothing but vacant new homes sitting next to foreclosures. Who wins then?
I'm currently having a house built. Why would I want to buy a house from someone else who couldn't pay the mortgage. I do realize that some of the homes are recently built 02-09' that were mortgaged under ARM loans but the way I look at it is the owner new for months before they were going to be foreclosed on so what else did the neglect on the property. Not to mention these houses were built during the hieght of the real estate market where a now $250k house once cost you $350k. The banks still want their money and aren't coming down to today's realistic prices.
1:32
Ugh. there is a transfer tax already…guess you don't buy or sell much real estate.
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