Realtors association gives reports on home costs to city of Madison

Realtors association gives reports on home costs to city of Madison

MADISON, Ala. (WAFF) - The Huntsville Area Association of Realtors is asking Madison city leaders to do some homework.

The association gave the city reports that it argues undermine proposed impact fees.

Those impact fees would be one time taxes applied to new buildings in the city and the funds would go to infrastructure and first responders.

It’s expected the fees would be passed down to home buyers.

Wednesday, association CEO Josh McFall said the rising prices of Madison homes shouldn’t be compounded by the fees.

“Prices out that middle, even upper middle class from buying a home in Madison,” he said.

The report shows from 2017 to 2019, the number of homes built over $450,000 doubled to from 39 to 78.

However, the total number of homes built also went up by 38 in that time.

“I think their consultants recommended to them based on the need they saw in the city, what we’re telling them is here’s what’s really happening,” McFall said.

The proposed impact fees would cost developers roughly an extra $11,000 per home and $6,000 per apartment building.

The fees would not impact the prices of existing homes.

City spokeswoman Samantha Magnuson said the administration is researching available information to make the best decision.

The Madison City Council was originally scheduled to vote on the impact fees in early March. The new timeline is unclear.

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