Approved Tax Impacts Summary ($32M Bond)
Archived Date: September 3, 2024
Approved by the Board of Selectmen, also acting as the Board of Finance, at their September 3, 2024 meeting, this document projects the long-term property tax impacts of issuing up to $32,075,000 in municipal bonds. The bonding is scheduled in two tranches of $16,037,500, each having twenty-five year terms. The analysis details projected mill rate shifts, anticipating a peak mill rate of 18.68 by fiscal year 31/32. It outlines specific annual tax burden increases for tiered property values based on the current median property value of $300,200. The plan also notes the anticipated use of $1,600,000 in projected bond premiums and $500,000 from the town available fund balance to offset project financing impacts.