Developers proposing to build homes in West Dundee will be charged higher impact fees for the local school and library districts under a revised ordinance approved this week by the Village Board.
Village trustees Monday night unanimously voted to raise the land value used in calculating the impact fee to $111,400 per acre from $105,000 per acre, reflecting increases in property values during the past three years.
Impact fees for a three-bedroom house rose to $6,243.90 from $5,091.77, and for a four-bedroom house, to $8,980.18 from $8,602.66. Fees for a two-bedroom townhouse increased to $3,325.61 from $3,207.93, and for a three-bedroom townhouse, to $4,316.05 from $4,156.04.
Under the ordinance, the cash value for land suitable for park development, $34,000 per acre, would not increase.
If a developer opts to pay cash rather than land for new schools, parks, library and municipal services, the village collects the fee and forwards part of it to Carpentersville-based School District 300 and the Dundee Township Library District.
