Local News

Raleigh Leaders Considering Increase In Home Development Fees

Posted Updated

RALEIGH, N.C. — The cost of building a new house in Raleigh could increase thousands of dollars if city leaders approve a proposal to raise developer fees.

The proposed increase, $3,400 -- a $2,700 increase over the current fees -- would force homebuilders to pay more of the costs associated with building a development, such as road construction. Retail, office and industrial spaces would also see a several-thousand dollar increase.

Although the city would charge developers for the increase, homebuilders would likely pass on the cost to homebuyers.

But Raleigh Mayor Charles Meeker says the fee increase is long overdue and is fair compared to other Triangle communities.

"Raleigh is charging about 1/5 of what if could charge, and the fees have not been changed in 18 years," Meeker said. "And compared to other cities, like Cary and Apex, Raleigh is charging less, and so the report found the city should change its fees upwards."

The tradeoff for homeowners, according to Meeker, would be more stable property taxes.

But for some young homeowners, such as Danielle Williams, paying an extra $2,700 could make all the difference.

"A couple of thousand of dollars would be the difference between me owning a home and not owning a home," she said.


Copyright 2024 by Capitol Broadcasting Company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.