Land Use & Zoning
A Virginia locality imposes an impact fee on new residential development to fund road improvements. This type of fee is known as a:
ASpecial assessment
BProffers (voluntary)
CDevelopment impact fee✓ Correct
DTax increment financing
Explanation
Development impact fees are charges imposed on new development to help fund public infrastructure (roads, schools, utilities) necessitated by the new development. Virginia localities have limited authority to impose impact fees under VA Code § 15.
People Also Study
Related Virginia Questions
- A Virginia locality imposes a development impact fee on new construction to pay for roads and schools. This fee is an example of:Land Use & Zoning
- In Virginia, impact fees for new development are typically used to:Land Use & Zoning
- A Virginia locality creates a tax increment financing (TIF) district to fund infrastructure in a blighted area. TIF works by:Land Use & Zoning
- In Virginia, a mixed-use development that combines residential and commercial uses in a single building or area typically requires:Land Use & Zoning
- In Virginia, a listing agreement grants the broker which type of authority?Agency
- In Virginia, a property owner who allows public use of their private land for recreational purposes without charge has limited liability under:Property Ownership
- Virginia's Hampton Roads region has the highest concentration of active-duty military in Virginia. Which loan type is most commonly used by service members purchasing homes in the area?Finance
- In Virginia's Richmond market, what type of residential appraisal methodology do Fannie Mae and Freddie Mac require for single-family home purchases?Property Valuation
Key Terms to Know
Zoning
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
Adverse PossessionA doctrine by which a person can gain legal title to another's land by openly, continuously, and adversely occupying it for a statutory period.
Study This Topic
Practice More Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Virginia Quiz →