|Item:||Mil rate impact:|
|AET renovation-addition||8 cents/$8 per $100,000 of property|
|HHS 15-classroom addition||16 cents/$16 per $100,000 of property|
|Intermediate school||74 cents/$74 per $100,000 of property|
|Operational cost||39 cents/$39 per $100,000 of property|
|Total mil rate impact for all questions:|
|All facilities + operational costs = $1.37/$137 per $100,000 of property|
|Cost to owner of:|
|$200,000 home = $274.00|
|$250,000 home = $342.50|
|$300,000 home = $411.00|
|$350,000 home = $479.50|
|$400,000 home = $548.00|
If approved, full impact of the tax increase will be phased in over three years.
Cost of delayed construction
- Future construction projects costs are expected to increase as much as 5 percent in next two years due to:
- labor shortages of experienced tradespeople,
- potential material shortages,
- subcontractors’ capacity.
- Estimated added construction cost for a 2-year delay: $2.1 million – intermediate school; $500,000 – high school projects.
- Interest rates are projected to increase. A delay would require another borrowing cost estimate that could raise costs above the construction increases
No kids in school? Quality education affects everyone
Quality K-12 public education has been shown to lead to:
- Higher home values,
- Stability in the community due to
- more gainful employment,
- stable families,
- productive citizens,
- fewer crimes,
- fewer demands on the public health care system,
- less welfare assistance.
“The Social and Economic Benefits of Public Education” by Dana Mitra, Ph.D., Pennsylvania State University