馃攳
New Impact Fees SURGE Home Prices In Myrtle Beach - YouTube
Channel: Jeremy Blanton
[0]
have you heard about the new fee coming
[1]
to horry county that could increase the
[3]
purchase price of your house by four
[5]
thousand dollars
[6]
let's talk about it now
[16]
what's happening guys it's jeremy
[18]
blanton with re max southern shores and
[20]
today
[21]
i want to talk about a subject something
[23]
that is late breaking news here in our
[25]
area
[25]
recently horry county council passed a
[28]
new law
[29]
into effect that is going to bring
[31]
impact fees to our area
[33]
what does that mean well impact fees are
[35]
going to be a type of tax that is put in
[38]
place
[38]
on properties being sold now you may
[41]
wonder is this going to affect
[42]
me buying a resale or my house that i
[45]
currently own
[46]
no that is not the case at all this
[49]
impact fee is
[50]
only going to affect new construction
[52]
homes now
[54]
why in the world are they bringing this
[55]
thing to pass now
[57]
and what has been going on well let's
[58]
talk about it by taking a step back here
[60]
to the beginning first and kind of
[62]
stepping back a few years
[64]
this is something that horry county
[65]
council has been trying to bring
[67]
into our area for a very long time this
[70]
has been going on for years
[72]
and there has been several years of
[74]
discussion months and months of planning
[76]
meetings
[77]
and all kinds of things going on behind
[79]
the scenes to bring this to pass
[81]
in fact as a local realtor the
[83]
association has been
[85]
fighting this for years to try to keep
[87]
impact fees out of our
[89]
area or at least minimize them as much
[91]
as possible
[92]
up until just a few months ago the
[94]
original plans for these fees were going
[96]
to be well north of five
[98]
thousand dollars when they put them on a
[100]
new construction home
[102]
luckily they were able to get those fees
[104]
reduced down
[105]
and save you a lot of money now you may
[108]
be wondering
[108]
why are they bringing in these fees what
[110]
are they going to be for
[112]
well here in our area we have
[114]
experienced tremendous growth over the
[116]
last 10 to 15 years
[118]
you've probably seen many sites online
[121]
and
[121]
list places that say myrtle beach is one
[123]
of the best places in america to live
[126]
and because of that a lot of people have
[128]
been moving to our area
[130]
you know i share in my videos all the
[131]
time about people who are
[133]
wanting to get out of the north they're
[135]
tired of spending
[136]
high amounts of money on taxes they're
[139]
tired of dealing with cold weather and
[141]
shoveling snow
[142]
and so those people are looking to move
[144]
south and are coming here
[145]
but one of the biggest issues that we've
[147]
had with all of this
[148]
influx of new people is that our
[151]
infrastructure
[152]
our roads they haven't been able to be
[154]
upgraded and it's been a very expensive
[157]
thing to do
[158]
in fact over the last many years horry
[161]
county has put
[162]
into effect a one cent one penny
[166]
tax on many things and it has helped
[168]
immensely with
[169]
putting in greater infrastructure in our
[170]
area but things like
[172]
drainage needs to be fixed and we need
[174]
more support staff in there
[176]
more police more fire more people to
[179]
help with the masses of people moving to
[181]
the myrtle beach area
[183]
so that is where this fee comes into
[185]
effect
[186]
this new tax is going to go to help with
[189]
infrastructure
[190]
and emergency response vehicles and
[192]
staff that are needed in our area
[194]
as we continue to expand now what is
[197]
this fee and what is it going to cost
[199]
well if you are buying a new
[200]
construction home in the area
[202]
you can expect to see a fee of just
[204]
north of 1200
[206]
on any new construction single family
[208]
residence
[209]
if you are building a multi-family
[211]
property you can expect to spend a
[213]
thousand and thirty dollars per unit
[216]
so if you build a quad plex it's going
[218]
to be north of four
[219]
thousand dollars this tax they're also
[221]
going to put this tax on commercial
[223]
property
[223]
if you have a retail space you can
[225]
expect to spend about seventeen hundred
[227]
dollars
[228]
per thousand square foot of a building
[230]
so if you have a ten thousand square
[232]
foot building
[232]
expect to spend another seventeen
[234]
thousand dollars in just this impact fee
[237]
tax think of this tax as an investment
[239]
on your property
[241]
you know there's things that are going
[242]
to increase the value of your home over
[244]
time
[245]
and there are things that are also going
[246]
to make the expenses of your home go up
[248]
as well
[249]
things like the closeness you have to a
[251]
fire station
[252]
or a fire hydrant those things can make
[254]
your
[255]
expenses go up exponentially you know if
[258]
your home has a nice fire station like
[260]
mine
[260]
there's one right across the street so i
[262]
get a nice deductible because if there
[264]
was an emergency
[265]
they could be there in a matter of
[266]
minutes but with the increase in influx
[269]
of people coming to our area
[271]
the roads are becoming a little more
[273]
congested we need better road systems
[275]
here in our area so that people can get
[277]
around faster
[278]
if there is an emergency they can get
[280]
there so think of it this way
[282]
when you pay that tax for that new
[283]
construction you're helping to
[285]
fund the next fire department in its
[287]
police station
[288]
so that your taxes can stay low and
[291]
affordable on a regular basis
[293]
and even with this additional impact fee
[296]
that you're going to have
[297]
in the long run your taxes are still
[299]
going to be much lower
[301]
each and every year than what you're
[302]
paying right now so what does all this
[304]
fees mean when does it take place
[306]
well according to what they shared in
[308]
the county council meeting
[310]
this is going to start in 90 days or
[312]
october 15th
[314]
is the deadline so any permits that are
[316]
pulled prior to that date
[318]
are not going to be affected by the
[320]
impact fee however
[322]
any purchases that are done after the
[324]
fact or any permits that are pulled
[326]
after october 15th
[327]
they're going to incur this fee that is
[330]
going to start to be in place
[331]
on every single new construction home so
[334]
if you're thinking about making a move
[336]
to the area
[337]
this is just another reason why you may
[338]
want to consider making that move a
[340]
little bit sooner than possible
[342]
if you are thinking about doing new
[344]
construction or
[345]
if you're someone who's looking at
[347]
making a move to the area the new
[348]
construction fees
[350]
may make it a little bit too expensive
[352]
for you and if that's the case
[354]
it's okay there are plenty of options
[356]
out there in the resale market as well
[359]
that market is not going to be affected
[361]
at all by this impact fee
[363]
it's something that is just going gonna
[365]
happen on new construction
[367]
so i hope you guys enjoyed this video
[369]
today on
[370]
impact fees hope you found it valuable
[372]
if so give it a thumbs up
[374]
get the bell on and i'll catch in the
[376]
next one see ya
[385]
[Music]
[392]
you
Most Recent Videos:
You can go back to the homepage right here: Homepage