Tax Impacts
In January 2010, town administration put together a tax impact analysis of the 2 excluded projects placed before the voters of Natick - a new Natick High school and a new Community / Senior Center. Since that analysis, the voters voted favorably to fund both projects, the Massachusetts School Building Authority (MSBA) agreed to a funding methodology and reimbursement percentage with the Town of Natick, both projects were bid and actual costs have been determined. This update to the original analysis takes into account those events.
The combined actions of: a high reimbursement rate from MSBA, lower than anticipated construction bids for both projects, low interest rates due largely to Natick's AAA credit, and more households among which to divide the impact, have resulted in a lower per household tax impact than was forecast last January. The chart below shows the differences between January 2010 and today.
Impact Analysis
Please reference the documents below for more information and to gain a greater understanding of ongoing costs of the projects.
The combined actions of: a high reimbursement rate from MSBA, lower than anticipated construction bids for both projects, low interest rates due largely to Natick's AAA credit, and more households among which to divide the impact, have resulted in a lower per household tax impact than was forecast last January. The chart below shows the differences between January 2010 and today.
Impact Analysis
|
Costs |
January 2010
|
August 2011
|
Difference
|
|---|---|---|---|
|
Total costs (both projects combined)
|
$79,267,378
|
$70,558,177
|
$(8,709,201)
|
|
Average cost / household (1st year)
|
$308.70
|
$244.02
|
$(65)
|
|
Total average cost / household (all 20 years)
|
$4,870.56
|
$4,242.33
|
$(628)
|
Please reference the documents below for more information and to gain a greater understanding of ongoing costs of the projects.