Effects of Impact Fees on the Suburban Chicago Housing Market.

Web Abstract: 
Municipalities in suburban Chicago impose fees ranging from $2,223 to $8,942 on new four-bedroom homes. Other unofficial fees and the cost of complying with regulations add significantly to these totals. Impact fees are passed through to new home buyers in the form of higher prices or reduced choice of size, location, and amenities. Due to the incentives facing policymakers and the lack of accurate information on the true cost of new development, impact fees are unlikely to reflect the true cost of public services or infrastructure. High impact fees are regressive, reduce the supply of moderately priced housing and may negatively affect a community's ability to attract and retain good-paying jobs.
Author: 
Baden,Brett M.; Coursey, Don L.; and Kannegiesser, Jeannine M.
Publication Date: 
11/18/1999
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