Purchasing a new construction home is an important financial investment. Our attorneys and staff understand the benefits and concerns of new construction ownership in the fast-growing Kendall County area. New construction differs from home ownership in surrounding counties. Generally, new construction homes will have additional SSA taxes, which are in addition to the normal real estate taxes.
What is a Special Service Area?
A special service area is a taxing strategy for local communities for physical improvements such as building of roads and schools. Generally, special service areas or otherwise known as “SSAs” are for developing areas to assist with paying for general construction services such as highways, school districts, and parks. One of the benefits of an SSA is it enables governments to pay for services without incurring debt.
As the City of Yorkville website further explains, SSAs are a unique financing tool to pay for new improvement such as sewers, road construction, school, curbs, and gutters.
With SSAs, the only people that benefit from these specific services are charged an SSA. Thus, the general population is not responsible for payment of an SSA. One of the benefits of an SSA is lower housing costs for new construction owners. Generally, the real estate builders such as Lennar and Ryan Homes are able to price homes at much cheaper housing values versus passing the costs of the SSAs directly to the new construction home buyers in increased home purchase prices.
Experienced Real Estate Attorneys for Homebuyers
Gateville Law Firm can assist you with your new construction home purchase in the Yorkville, Plano, and Oswego, Illinois areas. Whether you are a new home buyer in Yorkville, Illinois and want to purchase new construction, Gateville Law Firm can assist you with your purchase and sale of real estate. Gateville Law Firm helps new construction home owners in the following neighborhoods:
- Blackberry Woods
- Brighton Oaks
- Country Hills
- Grande Reserve
- Shadow Creek
- Windmeter Ridge
- Ryan Homes
- Lennar formerly known as “CalAtlantic”