The Real Deal Miami

Rise in Palm Beach construction leads to big drop in permit fees

Charge cut by 20% after city reached $250M in new building
July 03, 2014 02:04PM

Palm Beach

Palm Beach

For West Palm Beach residents looking to remodel their homes, there is no better time than now. The city is slashing building permit fees by 20 percent, effective immediately.

The change took effect after the city reached the $250 million threshold in combined value of new construction on Wednesday. City officials had set the cap in November 2009 to increase permitting fees to help alleviate the costs of their building department, The Palm Beach Post reported.

This might be the first time West Palm Beach has hit the $250 million mark in new construction, city officials said.

According to the new valuation rates, the fee for construction projects of $2,501 to $100,000 is now set at two percent, 1.5 percent for projects of $100,001 to $1 million, 1.25 percent for projects of $1 million to $10 million and 0.75 percent for any project of more than $10 million.

Mayor Jeri Muoio expressed hope that the fee break would draw new business in the recovering city. “It’s a good time to get your permits in,” the mayor said.

The city expects to issue 11,000 permits this budget year — up from 9,500 the previous year. Most of these are for small projects valued at $10,000 or less. [The Palm Beach Post]Sasha von Oldershausen