Estimated Tax Impact
The following charts illustrate the estimated tax impacts for the New High School for three example home values. The intent is to provide rough estimates based on the information available at this time. The data will be updated as additional information becomes available.
- The $39M includes costs for land and the new school only.
- A 25 year bond term is the mid-range being considered at this time.
- The 5.5% rate (was 6%) is considered conservative at this time.
- The $1.416B Town Valuation is current and fixed through the bond term, which is conservative as well. (Historically, Town Valuation rises over time which lowers the individual tax burden)
- The Median home value is now $282,400 as of Dec. 2009 from the Assessor's Office.
- This data represents a 'Level Principal' bond payment schedule.
- Data was provided by the District Administration from the NH Municipal Bond Bank.
New Pelham High School Estimated Tax Impact
$39M, 25 Yr Bond @ 6%, 30% State Aid, Spring 2010
$200,000 Home Value - (Link to Bond Schedule)
$282,400 Median Home Value (as of Dec 2009) - (Link to Bond Schedule)
$450,000 Home Value - (Link to Bond Schedule)
Bond Schedule for Land Article 2
Bond Schedule for School Article 3
Bond Schedule for Renovation Article 4
Bond Schedule from NH Municipal Bond Bank - Original Estimate
Offsets to the cost of a new school
The State of NH reimburses the town with monies applied to bond.
- 11.7M Estimated State aid (Currently 30%)
- Potential 1.2M estimated Green Reimbursement from State (3% maximum)
The Town of Pelham can collect Impact Fees which should offset costs additionally. The Impact fees for the Elementary School were planned at approx. 10%. The actual total amount collected was 17% of the PES bond.
The Pelham Elementary School Bond will be paid off in 2010.