27 Mar 08 Phoenix Homebuilders May Pay More to Build New Homes

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The Arizona Republic announced today that the city of Phoenix might increase the amount a Phoenix homebuilder is required to pay in water supply impact fees. The fees are used to pay for the necessary adjustments needed to meet an increase in water demand caused by residential growth. The article mentioned that the cost of water supply impact fees has not been raised since 1989 and that homebuilders may be required to pay as much as 100% more. The public meeting is set for May and voting will start as early as June. If the fees are increased, they will represent one more dilemma facing Arizona new homebuilders as they work to decrease inventory levels and earn a profit.

Here’s a link to the article from the Arizona Republic

http://www.azcentral.com/business/articles/0327phx-waterfees0328.html

Tags: arizona home builders, Arizona Real Estate, arizona republic, home builder profits, Homes for Sale, new homes, water supply fees