A municipal assessment against new residential, industrial or commercial development projects to compensate for the added costs of public services generated by new construction.
Costs imposed on new development to fund public facility improvements required by new development and ease fiscal burdens on localities.
The fee charged by the water department to offset the associated impact costs a new customer has on the system. These costs typically are characterized as the price to “buy into” the system.
fees to be charged objectively based on the specific impact a development will have on specific public services. Impact fees are intended to give local governments the ability to provide and maintain certain public services at a level necessary to support current and future growth requirements. Counties and local governments usually charge these fees but they can also be state imposed. In Georgia, DIFA (Development Impact Fee Act) empowered local governments to design and impose their own impact fees. The basis of charging impact fees is predicated upon the theory that the new development should pay a fee based upon the impact that development will have on the existing services it will be using.
Fees collected from developers of new homes to pay for schools, parks and other facilities.
Monetary charge imposed on new development by a unit to defray the capital costs of infrastructure needed to serve the new development.
Impact fees are imposed to charge the owners of newly developed properties for the "impact" the new development will have on the community. Fees can be used for such things as transportation improvements, new parks, and expansion of schools. Impact fees are not used to maintain existing facilities, but instead are used to create new facilities in proportion to the number of new developments in the area. Reference: www.answers.com
Money that local government collects from housing developers to pay for services that residents will need, such as schools, parks, road improvements and sewerage.
Fees developers are required to pay to help recover the cost of such governmental services as parks, roads, schools, and emergency services that result from new development.
Fees that must be paid by developers of new homes and subdivisions to pay for town facilities such as schools and parks.