According to the Town’s financial forecast, if the bond proposal is approved and is issued as currently anticipated in two phases, the Town estimates that the property tax rate may increase by 1 cent as a result of the bonds starting in FY20. However, many factors influence if and how much the tax rate might change, such as future interest rates and timing regarding exactly when the bonds are issued. Additionally, revenue and expenditure changes, legislative changes and operational decisions will impact the Town’s tax rate in future years regardless of whether the bonds are approved.
View the chart below to see what a penny increase at the Town’s current tax rate would cost based on different property values.
Property Value Cost per Month Cost per Year
$150,000 $1.25 $15.00
$300,000 $2.50 $30.00
$450,000 $3.75 $45.00
$600,000 $5.00 $60.00