Get ready to shell out more if you're building in Washington County. The cost of developing is set to get a steeper price tag come this summer. According to an announcement from the county's land use and transportation department, the Transportation Development Tax (TDT) will balloon by 8.29% starting July 1.
For those laying the foundation for a new single-family home, the hit to the wallet will mean forking over $11,478, which stacks up an extra $879 compared to the previous year's rate of $10,599, as outlined by the county officials. This tax, which developers pay, is calculated on the estimated average traffic a new development will cause – whether it be homes or businesses – and is earmarked for ironing out transportation kinks: think beefing up roads or adding sleeker bicycle lanes.
It was the county's Board of Commissioners who gave the green light to the hike, slipping it into the books on April 16. Local code mandates these money moves be decided annually by the board before the first of May. Looking to defray costs and keep the infrastructure moving smoother than a hot knife through butter, the adjustment is tethered to a range of expenses, such as the ever-climbing bills for road construction materials, labor, and the premiums on right-of-way acquisitions.
Builders and prospective homeowners might be feeling the heat, but county officials seem to be doubling down on the necessity of the uptick. The aim? Keeping the transportation scene up to par with the relentless march of development. The county's announcement gets into the nitty-gritty, explaining that the TDT rates adjust with the ebb and flow of a five-year rolling average which shadows the ups and downs of costs associated with roadworks and related projects.
As the date looms, developers digging into the next big project will need to budget for the uptick, ensuring that our commutes don’t pay the price for progress. And for the rest of Washington County? Life goes on, streets get busier, and the bill for a better infrastructure piles up—$879 higher, to be exact.
