“New research led by experts at the World Resources Institute (WRI) and ECOnorthwest, with support from The Pew Charitable Trusts, shows that building homes near existing jobs, stores, and transit saves public dollars, in both up-front infrastructure and ongoing maintenance costs, and produces more revenue in property taxes per acre than local governments can expect from development at the edge of town,’ according to a new report by the Pew Charitable Trusts.

As the report explains, “New housing built near existing workplaces, retail, and transit entails lower infrastructure construction and maintenance costs because these new homes generally rely on roads and utility connections that are already in place. Housing built at the urban fringe, on the other hand, often requires new roads, sewer and water lines, and other public services. Adding homes around existing amenities maximizes per-acre property tax revenue by making efficient, compact use of land.”

Among the key findings of the report are: 

• “The up-front cost to government and taxpayers of building roads, water and sewer lines, and other public utilities to serve new homes near existing jobs, stores, and transit is approximately $21,000 lower per home than the infrastructure costs associated with building homes at the outer edge of cities and towns.”

• “The ongoing costs to government and taxpayers of maintaining roads and utilities that serve new homes are 50% lower, on average, when those homes are built near existing jobs, stores, and transit.”

• “Property taxes generated per acre are 13% higher, on average, when new homes are built near jobs, stores, and transit.”

• “On average, the payback period for infrastructure associated with new homes is 50% longer when those homes are built in outlying areas than when they are built near existing jobs, stores, and transit.”

• “Local government can keep property tax rates down while maintaining healthy balance sheets when more housing is built in established areas.”

As the report concludes, “The benefits of building new homes near jobs, stores, and transit are clear. Modernizing regulations so that it is easier to build housing in amenity-rich, well-connected areas improves affordability, gives people more choices in where to live, strengthens public finances, and helps communities thrive.”

#StateandLocalGovernmentManagement #StateandLocalManagement #StateandLocalInfrastructureManagement #StateandLocalHousingManagement #StateandLocalPropertyTax #StateandLocalGovernment Budgeting #StateandLocalHousingPerformance #CityGovernmentHousingManagement #CityGovernmentInfrastructureManagement #CityNewHousingPolicyAndManagement #CityNewHousingDensity #CityBenefitsFromNewHousingDensity #CityHousingInfrastructureMaintenanceCost #CityNewHousingBenefits #CityAdvantagesOfHousingBuiltNearStoresTransitandJobs #PewCharitableTrusts #WorldResourcesInstitute #ECONorthwest #StateandLocalHousingAffordability #CityHousingAffordability #CityHousingMaintenanceCosts #StateandLocalManagementNews #StateandLocalHousingNews #BarrettandGreeneInc