Will Higher Builder Fees Raise New Home Prices?

3 05 2007

Prince William County officials yesterday proposed a 36 percent increase in the amount that developers pay the county for permission to build houses, which industry officials warned would probably drive up home prices.

County officials said they need the additional money — $51,113 for each house, up from $37,719 now — to build the roads, schools, parks, libraries and police and fire stations that are needed because of growth.

Representatives of the building industry said the proposed increase in so-called developer proffers would come at a bad time because of the slowdown in the housing market. If the higher proffer rate is approved, industry officials said, the costs would be passed along to buyers of new homes.

Read the rest of the story right here.  Just kidding.  It’s here.




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