An Assessment of Real Estate Impact Fees and the Economic Consequences for Horry County

This study conducted an analysis examining the economic impacts that would likely arise as a result of the implementation of a new set of impact fees that Horry County is currently proposing. Specifically, the economic effects of the new impact fees being implemented on all new single-family housing developments as well as on new commercial property – including commercial office and industrial space – will be examined. These impact fees would directly increase the cost of property development in Horry County and thus be likely to increase the price of residential housing and all new commercial space to the final buyer. In addition, these price increases would also decrease housing affordability throughout the county. Suchchanges in the underlying demand for property in the region would also be likely to impact the growth of ongoing business activity in Horry County.

Read the entire study here