IFO Estimates 2022 Impact Fee Will Be Highest on Record
Townships that receive impact fee revenues will be interested to note that the commonwealth’s Independent Fiscal Office has released its impact fee estimates for the 2022 revenues, which will be distributed in mid-2023. The IFO estimates show that the average price of natural gas on the New York Mercantile Exchange for 2022 is $6.64 per MMBtu through November. When the price is $6 or above, the impact fee increases significantly, along with a statutorily required inflation adjustment. As such, the 2022 impact fee estimate is $274.8 million, a 17% increase over the 2021 revenues (which were distributed in 2022) and the highest amount on record. Click here to read the report.