The study empirically estimates the effects of four types of impact fees (road, school, park, and fire protection impact fees) on new and existing housing, as well as the fees’ differential effects on price as determined by housing quality. The results indicate that impact fees generally raise the price of new housing. Further, the magnitude and the direction of the housing price effect of individual impact fees vary substantially. For example, the park impact fee increases the price of new and existing housing, whereas the fire protection impact fee has no effect or has a negative effect on housing prices.
- Real estate; Housing; Infrastructure finance; Regression; Impact Fee
Available at: http://works.bepress.com/shishirmathur/47/