How are impact fees calculated?

Impact fees are calculated using a formula contained within the impact fee ordinance. Impact fees are based upon generally accepted industry criteria, including the U.S. Census Bureau and Institute of Transportation Engineers (ITE) data. Per capita and per employee replacement costs were determined based on the Development Impact Fee Study Report for Fort Mill.

In instances where an applicant contends that the assumptions included within the impact fee ordinance are not accurate for the intended use, the ordinance allows an applicant to perform an independent fee calculation (at the applicant’s expense). The ordinance also authorizes credit agreements for approved monetary or in-kind contributions.

Formulas

The following formulas contains the multiplication symbol (x). 

Parks and Recreation Impact Fee Formula
 
Residential: Number of Dwelling Units x Persons per Household (U.S. Census) x Replacement Cost per Capita x Discount Rate  
Non-Residential: Not Applicable
 
Fire Protection Impact Fee Formula
 
Residential: Number of Dwelling Units x Persons per Household (U.S. Census) x Replacement Cost per Capita  x Discount Rate
Non-Residential: Number of Units (SF, Rooms, Beds, etc.) x Average Employee Space Ratio (ITE) x Replacement Cost per Employee  x Discount Rate
 
Municipal Facilities & Equipment Impact Fee Formula
 
Residential: Number of Dwelling Units x Persons per Household (U.S. Census) x Replacement Cost per Capita  x Discount Rate
Non-Residential: Number of Units (SF, Rooms, Beds, etc.) x Average Employee Space Ratio (ITE) x Replacement Cost per Employee  x Discount Rate

Show All Answers

1. What are impact fees?
2. Why did Town Council adopt an impact fee ordinance?
3. When will the town start collecting impact fees?
4. How are impact fees calculated?
5. What is a discount rate?
6. How and when are impact fees paid?
7. Do impact fees apply to all types of construction?
8. How will the fee be calculated if my intended use is not on the impact fee schedule?
9. Can an impact fee assessment be appealed?
10. Do I need to pay an impact fee if I am opening a business in an existing structure?
11. How can I receive an impact fee credit?
12. Are impact fees refundable?
13. Can the impact fee amounts be changed in the future?
14. How will the town spend revenues collected from impact fees?