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Community Project Financing Options - Have Your Say Today

Learn about the project financing options available for our community project and how it impacts taxpayers. Choose between 20 or 30-year terms to reduce annual impact on tax payers. Share your preference with the Board of Selectmen by visiting our website and taking a short survey.

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Community Project Financing Options - Have Your Say Today

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Presentation Transcript

  1. Project Financing • Financial Model assumes $36,650,000 Local Share (principal only) • Project to be financed over 20 to 30 years • 30 year term reduces the annual impact to tax payer • 20 year term reduces overall interest expense • Decision regarding term is made by the Board of Selectmen & Town Treasurer

  2. Estimated Impact by Tax Classification • Each tax classification pays a share of the overall project cost, according to Assessed Valuation. • Residential includes both single family & multi-family properties

  3. Estimated Annual Impact to Household

  4. Estimated Annual Impact to Household

  5. Estimated Annual Impact to Household

  6. How to Calculate Estimated Annual Impact • Est. impact on tax rate on 30 year term = $1.87 • Est. impact on tax rate on 20 year term = $2.28 • To calculate est. impact: Est. impact on rate x (Your Home’s AV/ 1,000) • You can find your most recent AV on your last tax bill.

  7. Make Your Preference Known • The Board of Selectmen is interested in hearing from you. • Please visit the Town’s website www.lunenburgma.gov and take our short survey on project financing to register your preference. • Thank you for taking the time to attend this evening’s presentation.

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