How We Pay For Meridian, Idaho Growth
Meridian, Idaho Growth Costs
The cost of growth includes road improvements, additional infrastructure, parks, fire protection, police protection, and other services that are required to accommodate additional growth.
Most Meridian, Idaho property owners don’t review their annual property tax bills because their property taxes are paid as part of their mortgage payment.
A quick look at a property tax bill reveals how property owners help pay for Meridian, Idaho growth.
Here are a few items commonly found on Meridian, Idaho property tax bills.
- School bonds (including supplemental and emergency)
- County taxes
- Fire districts
- Highway districts
- Meridian City
- College of Western Idaho
- Emergency medical service
- Sewer districts
- Mosquito abatement
- Drainage districts
- Irrigation districts
Meridian, Idaho Impact Fees
Meridian’s current impact fee is $2,017 per dwelling unit and is the same for single-family or multi-family dwellings.
Developers/builders pay those impact fees when they pull building permits.
Meridian, Idaho Growth Projections
The City of Meridian has estimated that 8,000 new housing units will be built in Meridian by 2024.
Meridian issued nearly 1,000 more residential building permits in FY 2018 than it issued in FY 2017.
In case you haven’t noticed, apartment complexes are springing up all over the Treasure Valley.
Multi-family units comprised nearly one-half of Meridian’s housing growth this past year.
The bottom line?
The City of Meridian is considering increasing impact fees to cover rising costs of growth.
Rising impact fees will result in higher building costs and higher home prices.