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Fort Mill and Impact Fees

There has been a lot of talk recently about growth in Fort Mill and impact fees. Residents of Fort Mill recently voted for an increase in impact fees requested by the Fort Mill School District. Now we go through the process of readings and public hearings. The second reading and public hearing is June 27, 2018. It is open to all and anyone can speak.

So, just what are these impact fees and what impact could they have on you? They will be assessed to developers of residential projects to capture a small/proportional share of cost of new infrastructure and public facilities (in this case, schools) that will be necessary due to the growth. They have been $2,500 per new home or apartment unit since 1996. The current proposal is $19,000 per new home unit and $12,500 per apartment unit.

One perspective:
Pros:
Generally proposed with a reasonable degree of precision where they directly benefit the new users of the new facility. Compared to property taxes, which apply to all property owners, regardless of taxpayer’s use or derived benefits from the new facility.

Cons:
Charged one time, up front but are applied to the cost of the facility which may be in use 30 years or longer. How much of the cost of a particular facility should be borne by an individual or individuals who may or may not use it for a fraction of the thirty years?

The Fort Mill Times has a couple of good articles with information from both sides of the issue.
http://www.heraldonline.com/news/local/article211251319.html and http://www.heraldonline.com/news/local/article211251319.html

The second reading and public hearing is 6 p.m. June 27 at McCelvey Center, 212 E. Jefferson St., York. Final reading is tentatively planned for July 16. Plan to attend to learn more, ask questions and share your opinion.


The Fastest Growing City in America – FORT MILL. SC (Part 2!)

A few details that landed on the cutting room floor from my segment on The American Dream TC Charlotte on Fort Mill, SC (You know I had soooo much more to say!!)

Fort Mill residents really do have the best of both worlds - The amazing small town atmosphere and southern hospitality with all that Charlotte has to offer just a hop, skip and jump up the I-77 freeway. Add to that the top performing schools - academics currently ranked #1 in the state (consistently in the top 5) with championship sports teams and marching bands. And the vibrant Main Street area with several new local businesses (#SouthernSugar, #Hobos, #AmorArtis, #LocalDish, #TowneTavernExpress, #TheImproperPig, #Puckerbutt, #CrossingsOnMain, #ZBakery, #MainandGrayHome, #MudPuddle) plus several more under construction! There is access to Lake Wylie and the Catawba River. Plus the low property and sales taxes.

The downtown is rich in architectural history. Founded in 1755, the town is proud to have a variety of eras represented in the buildings on Main Street. And thanks to Roots and Recall, the town has recently unveiled TBHH (This Building Has History), a mobile friendly way to tour and share information on historical sites in South Carolina. Just scan the QR code on the sticker in front window of the building and you can read all about it’s history!

There is a good variety of housing choices, both existing and new construction. Existing homes range from historical to built last year! New Construction home choices are plentiful in Fort Mill with almost all of the national new home builders plus the local builders developing communities. There are single family homes and town homes, master planned communities and intimate neighborhoods. Property values are strong, with the median home price rising 33% over the past 10 years to $392,610. With half the homes being under and half being over the median value, there are styles and prices for everyone!

As always – don’t hesitate to reach out anytime with any real estate need. I am your ‘go to’ person with all my resources available for you!

And a huge shout out to Jamie Shirey! He crushed it as my guest on The American Dream TV Show!!

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Updated: 31st January, 2018 8:23 PM.