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Impact fees are usually implemented by local governments to help cover the costs of infrastructure or other needed projects. These fees are very similar to linkage fees or proffers, and may vary depending on the state.
What is the meaning of impact fee?
An impact fee is typically a one-time payment imposed by a local government on a property developer. The fee is meant to offset the financial impact a new development places on public infrastructure. Public infrastructure includes roads, schools, parks, recreational facilities, water and sewerage, among other services.
What is the reason impact fees are charged?
In Kentucky, development impact fees are illegal. Whats an impact fee? According to the American Planning Association (APA), Impact fees are payments required by local governments of new development for the purpose of providing new or expanded public capital facilities required to serve that development.
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The following shall be exempted from payment of the wastewater impact fee: 1. Alterations or expansion of an existing residential building where no additional.
by C Carrin Cited by 17 The use of development impact fees to finance public facilities that are necessary to service new growth is a practice that has gained importance and
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