Developer Fees On The Rise
Local cities and states see rising property values as a way to cut budget gaps by increasing developer fees.
"With many states nearing the end of their rope over budget shortfalls,they're increasingly eyeing real estate as a huge potential source ofrevenue... So now, more states are trying to slip in tax increases on bothcommercialand residential real-estate transactions. And more local jurisdictions,contending with their own state cutbacks, are increasing property taxesand slapping on things like real-estate development-related fees." [Editor's note: The full text of this article is only available to Wall Street Journal subscribers.]
Thanks to PreservingtheAmericanDream Listserv
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Published on Wednesday, November 19, 2003 in
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