Taxpayer impact

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

 

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