Fayetteville, Road Impact Fees

Step right up and pick your poison. What will it be, road impact fees or real estate tax? Fayetteville, like all cities in NW Arkansas, needs to build roads to accommodate all the traffic. However, Fayetteville doesn't have the money to build all the roads it needs, even with the recently passed tax for roads. That's where a road impact fee comes in. They would provide additional money for building new roads. Impact fees are a form of tax and they will increase the price of a house. However, home buyers won't feel the bite of the fee because the fee will be factored in their mortgage. A $3,500 fee paid out over a 30 year loan is less than $120 per year. The impact fee will join all the other costs that come with buying a home.

The recommended maximums for each are as follows, though aldermen are expected to consider lesser amounts:
• $ 3, 409 for each singlefamily detached dwelling.

The real estate tax proposed by Charlie Sloan is something that is really going to impact everyone really hard, especially at the rate he's proposing.

[Stephen] Davis said that if the tax becomes reality, the city could likely charge $ 481 per $ 100, 000, or $ 4. 81 per $ 1, 000,

Sloan's proposed tax would nearly double the current real estate tax being paid now. There is just no way that I am going to vote for something that I can't afford. I don't know why Sloan would think people would vote for a real estate tax increase. People already complain about it being too high now. They aren't going to vote to increase it, especially that high of an increase.

More here and here