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Impact Fees
By Contributor on December 5, 2018
Impact fees refer to expenses charged to developers by the local government for new construction projects.
These fees are charged because mega construction projects hinder the government’ ability to deliver services that serve the people.
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It could also be due as a condition for being given the permission to do the development project.
As such, it can be sometimes seen as a “tax” or “levy” of some sort.
Impact fees often affect residential projects and is seen by developers as a cost of doing business.
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