Impact fees may soon hit home
LV Sun - With the region’s spiraling growth bringing thousands of new residents monthly to the Las Vegas Valley - along with demands for more roads, fire stations and parks - local governments are striving to force growth to pay for itself in ways that would raise new home costs.
Clark County, Las Vegas and North Las Vegas, facing growth-fueled demands for additional public services and facilities, are considering the region’s first development impact fees.
Although residential and commercial developers currently pay local governments various fees for projects, the fees often fail to cover the costs of street improvements, new fire and police stations and other infrastructure needed due to growth - leaving existing taxpayers to foot the bill.
The existing system, officials say, is fraught with inequities. Developers of large master planned communities pay more than smaller home builders. Developers of housing, office, retail and industrial projects also pay more to build in the Southwest Las Vegas Valley than in other areas.
The County Commission next month will consider hiring a consultant to study the issue.
For more information, contact MillionSaverHomes.com a local Las Vegas real estate broker at 702.212.3513.
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