It appears that Fairfield County just imposed a 4% impact fee on all residential and commercial property in the county.
On the one hand this will help to slow the residential growth of the county unfortunately it will also dampen economic growth.
This will take a big chuck from the buyers budget in buying any property. These funds will go to the General fund of the County. As an example, in a market where values are already depressed in the county this will cost the prospective buyer $8,000 on the average $200,000 home.
For those people that own homes this will be a fee that the seller will in fact pay regardless of the fact that this will be part of the buyers fee to transfer the property.
IN OTHER WORDS YOUR PROPERTY VALUES JUST WENT DOWN AN ADDITIONAL 3% WITH THE COUNTY COMMISSIONERS ACTIONS YESTERDAY.
By Broke
On the one hand this will help to slow the residential growth of the county unfortunately it will also dampen economic growth.
This will take a big chuck from the buyers budget in buying any property. These funds will go to the General fund of the County. As an example, in a market where values are already depressed in the county this will cost the prospective buyer $8,000 on the average $200,000 home.
For those people that own homes this will be a fee that the seller will in fact pay regardless of the fact that this will be part of the buyers fee to transfer the property.
IN OTHER WORDS YOUR PROPERTY VALUES JUST WENT DOWN AN ADDITIONAL 3% WITH THE COUNTY COMMISSIONERS ACTIONS YESTERDAY.
By Broke



