from the Templeton town website, under board of selectmen - town administrator -
town administrator weekly reports:
from Carter Terenzini "I met with NRSD current and former superintendent and Mr. Markel relative to the $1.74 projection and am comfortable that this was a reasonable projection. I will work up something in more detail for you and circulate it by e-mail on Monday."
That would be the same Mr. Markel who made up the current Templeton expense spread sheet, budget so called, that Mr. Markel was making changes to the day before Town meeting back in May 2016.
Now on a document dated 10/30/2015, there is a box titled Tax Impact. This was a presentation on the school project by the elementary school building committee. Within this box is the following:
Cost to Templeton $24,634,287.00
Cost per year @ 3.5% $ 1,406,865.00
Less NRSD debt $ 438,073.00
Net new debt $ 968,792.00
annual residential tax $1.74
annual tax increase per $1000.00
home valuation
Perhaps Carter will explain this in his email to selectmen on Monday. What does the payoff of old debt have to do with the costs of new debt? If you are paying an extra 60 cents per thousand for old debt, that will be paid off in 2019, that debt goes away and so should the old 60 cents per thousand. Now with new debt comes new taxes. If the new debt is or will be one million four hundred thousand dollars, how will $1.74 per thousand pay for that, when that per thousand amount will not now raise the required funds needed to make the new projected debt? Since no one can really tell us what amount will actually need to be borrowed, nor what it will cost, we have to use the numbers we have now, the data we have now.
So, what they have told us so far is the old debt for the NRSD will/should be paid off by 2019 and Templeton will no longer have to come up with that money, but now Templeton will have to come up with new money to pay for a 1.4 million dollar new payment and $1.74 per thousand will cover that.
posted by Jeff Bennett
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