from the Daily Herald
Realtors oppose teardown fee plan
By Ames Boykin Daily Herald Staff
Published: 8/27/2007 6:01 AM
Word that Rolling Meadows may impose a fee of as much as $5,000 on teardowns has prompted a group representing Northwest suburban real estate agents to prepare to fight what it dubs a "teardown tax."
City officials next month plan to discuss imposing a $1,500 fee for homes that are completely demolished to make way for larger homes. Leaders say replacing the city's post-World War II homes can change the character of the neighborhood.
A city committee looking at maintaining affordable housing in Rolling Meadows has suggested increasing the proposed fee to $5,000.
Jeff Metzger, government affairs director for the Realtor Association of Northwest Chicagoland, said the fee amounts to a tax. He questions how setting a fee would encourage affordable housing.
"We think property owners should have the right to do whatever they want with their property," Metzger said.
A person who razes a home to build a new one might not necessarily be building a larger one, he added.
Metzger said a newer home that sells for more on the market also improves the community and adds property taxes to the city's coffers.
City officials pushing for the fee, which will be formally discussed by aldermen next month, disagree.
"The increase in property values is precisely the phenomenon that keeps middle-class professionals and young families from being able to buy a home," said a report from the city's affordable housing committee.
2 comments:
Personnally feel the $5000 tax to tear down a house imposed by the city is a truly negative impact to the consumer and builder who are looking to improve the quality of life in Rolling Meadows. Original construction by Kimball Hill do not even meet building codes today. If anything, the city should pay the builder 1000.00 for the teardown and encourage the quality of homes in Rolling Meadows.
People need to understand that affordability is affordability. The $5000.00 taxaction would only increase the cost to the consumer on the value, and then the taxes for new construction in Cook County would have that value added to it. Tax upon Tax. Doesn't seem fair to me.
Jan
Jan- you make great points. We are very much opposed to these proposals. Please feel free to contact me if you want to be involved with this issue or any future government affairs related issue I may be working on.
Post a Comment