Milton developers should be aware that their costs are set to rise, with a newly updated Impact Fee Schedule set to increase the price of new developments come 2025. According to an announcement on the City of Milton's official website, future buildings will come at a steeper price, as these fees pay for public improvements like roads and parks which should benefit the community.
For those unfamiliar, impact fees help cover the bill for infrastructure upgrades that are necessitated by new projects like bridges and public safety gear. They budget for tangible enhancements that residents can actually use, but developers who haven’t yet started new projects are on the clock because after January 1, fees are set to increase. The current fees, which have remain unchanged since 2016, are nearing their end, with only weeks left before the New Year's Day increase.
The Atlanta Regional Commission and the State's Department of Community Affairs regulate these fees through annual reviews, ensuring the money gets funneled properly into the municipal improvements, all of which was deliberated upon this fall when the City Council approved on the new schedule to take effect on January 1, 2025. In a gesture of leniency, they decided against implementing the new rates at the onset of this fiscal year, which began October 1.
There is a silver lining for developers who act swiftly; if they get their Impact Fee Certification before 2025, they can lock in the current rates for a period of 180 days which offers a temporary reprieve. The full details the fees can be found on Milton's website, or through the Community Development Department for the insiders who prefer direct communication.
