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Development Services reported that due primarily to new major commercial construction, the year 2007 ended with a record high building permit valuation of $8 billion, almost double the valuation of 2006 permits.
Development Services and building departments nationwide base permit fees on a proposed project’s valuation, charging either a percentage of the valuation or utilizing a fee schedule based on the same data.
The record permit valuation Development Services experienced in 2007 is due to such major commercial construction projects as the Palazzo, Fontainebleau, and City Center on the Strip.
In 2006, the valuation of all projects permitted in unincorporated Clark County was $4.7 billion, which at the time was also a record high.
However, despite the volume of commercial construction, residential construction in unincorporated Clark County continued a downward trend in 2007. The year-to-date total for permits to construct new single-family residences in 2007 was 5,859, while 9,765 permits for new homes were issued in all of 2006.
The "2007 Total Permits Issued/Valuation Report" is available on Development Services’ Web site.
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