.jpg)
New Plot Plan
New Front Entrance
New North Perspective
New East Perspective
New South Perspective
Debt Exclusion - Tax Reference Sheet
Click to
download the Town Meeting Tax Impact Sheet
(revised to reflect refined/tightened financing plan)
| Estimated Annual Tax Increase |
| Lookup your home assessment or current taxes on the chart below |
|
to estimate the tax impact of approval of the High School
Articles |
| Home | Current | Article 1 | Article 2 | |
| Assessment | Taxes | School Bldg | Track/Bleachers | Total |
| $150,000 | $1,902 | $61.15 | $4.23 | $65.38 |
| $175,000 | $2,219 | 71.34 | 4.94 | 76.27 |
| $200,000 | $2,536 | 81.53 | 5.64 | 87.17 |
| $225,000 | $2,853 | 91.72 | 6.35 | 98.07 |
| $250,000 | $3,170 | 101.91 | 7.05 | 108.96 |
| $275,000 | $3,487 | 112.10 | 7.76 | 119.86 |
| $300,000 | $3,804 | 122.29 | 8.46 | 130.75 |
| $302,300 | $3,833 | $123.23 | $8.53 | $131.76 |
| $325,000 | $4,121 | 132.48 | 9.17 | 141.65 |
| $350,000 | $4,438 | 142.67 | 9.87 | 152.55 |
| $375,000 | $4,755 | 152.86 | 10.58 | 163.44 |
| $400,000 | $5,072 | 163.05 | 11.29 | 174.34 |
| $425,000 | $5,389 | 173.25 | 11.99 | 185.24 |
| $450,000 | $5,706 | 183.44 | 12.70 | 196.13 |
| $475,000 | $6,023 | 193.63 | 13.40 | 207.03 |
| $500,000 | $6,340 | 203.82 | 14.11 | 217.92 |
|
|||||
| * median house value is $302,300 |
This chart shows the annual estimated tax impact for Article 1
based on a median home valuation of $302,300 (over 22 years of
borrowing)*
| Article 1 - High School Renovation / Addition and Sewer |
| 22-year
borrowing period reflects an average* tax rate increase of:
$0.41 * To minimize financing charges, there are two overlapping 20-year bonds - 2013-2032, and 2014-2033, and 1-yr short term (2012) |
| Article 2 - Track and Bleachers Replacement |
| 15-year bond reflects an avg tax rate increase of: $0.03 (2013-2027) |
| ~ current tax rate is $12.68 per $1,000 valuation |
| Assumptions and References (to be revised as needed): |
| Current Tax Rate = $12.68 (per 1,000 valuation) |
| Bond Interest Rates = 4.00% ($7.0M) and 4.75% ($5.9M), (subject to change) |
| Based on FY11 tax rates and assessed valuation |
| Total
project borrowing period of 22-years from 2012-2033 - To minimize financing charges, there are two overlapping 20-year bonds (2013-2032 @ 4.00%, and 2014-2033 @ 4.75%), and 1-year short term loan for 2012. |
| Track/Bleachers borrowing period of 15-years from 2012-2026 |
| Article 1 principal cost to town (school/sewer) = $12.9M |
| - based on state reimbursement rate of 64.42% |
| Article 2 principal cost to town (track/bleachers) = $650K |
| * To obtain your assessed home value, please contact the Assessors |
| office at 508-285-0270, or email: lcathcart@nortonmaus.com |
| Also you can inquire through the website: |
| www.nortonma.org/Pages/NortonMA_Assessors/index |
