City Council Considers Impact Fees

Home buyers in Madison could soon be forced to pay more than ten thousand dollars for a one-time fee if they choose to buy a new home.

New this evening!

Home-buyers in madison could soon be forced to pay more than 10-thousand dollars for a one-time fee if they chose to buy a new home!

Madison's city council is considering that "impact fee."

Waay 31's sydney martin is live outside the huntsville area association of realtors tonight after she talked with a local realtor and people in the area about the possibility..

The huntsville area association of realtors told me today this impact fee is not currently in place anywhere in north alabama..

It's only at 2 beach counties in the state..

Homebuilders told me getting permits in madison are already cost 6 times as much as in the county and huntsville - and they're worried how this could impact future homes being built in the area.

Kimberly varnagatas, lives in limestone county, "i think it is shocking but madison city is a beautiful city."

One limestone county woman who spent the day at a park in madison told me she hadn't heard of the possibility of an impact fee..

The madison city council said the one time fee for a single family home - would cost the buyer nearly 11 thousand dollars on top of the purchase price of a brand new home.

Zelda friedman, realtor ""whenever you buy a home you've already been pre- approved with a lender for how much you can spend on a home.

Then you have an additional fee on top of that, because it puts you out of your price range on how much you want to spend on a home.

" realtor zelda friedman told me she thinks the fee would prevent many homebuyers from being able to afford the area.

She told me she thinks the city could end up losing money.

Zelda friedman, realtor "it could affect people moving into the area, they won't move into the area, it will effect commercial builders as well not being able to move into the area because if these people were moving into the area you wild have increased property taxes and sales taxes."

At a meeting held monday afternoon for realtors and builders to discuss the possible fee - the association of realtors said the city believes the fee could bring in about 55 million dollars in revenue.

The council said it plans to spend the money on roads, parks, the fire and police departments..

The woman i talked to told me if she moved...it would be to madison...and she thinks investing in the city is worth the extra money..

Kimberly varnagatas, lives in limestone county, "like today i'm enjoying this park with my granddaughter so that would be worth it."

Kimberly varnagatas, lives in limestone county, "some people ya know the quality of this city i think they are just willing."

Others, who didn't want to go on camera told me they think the fee is too high and would drive people away.

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The huntsville association of realtors told me this proposed impact fee would be the second highest in the country.

The highest being in a town in colorado.

The city is expected to vote on the fee next month.

Live in madison county sm waay 31 news .

Next wednesday - february 26-th - the city has a work session planned to discuss the fee.

The first reading of the plan is expected march 9th.

The vote right now is planned for march 23rd.

If you want to voice your opinion on the fee - attend the public