Building Project
Regional School District #10
Tax Impact for MS/HS Project
10/20/03
Cost to Taxpayers @ $22,445,000
Estimated Annual Tax Impact
Property
Property
Avg. Annual
Current
Current
Avg Tax
Value
Assessment
Tax Impact
Mill Rate
Taxes
W Project
Burlington
150,000
105,000
$173
31.5
$3,308
$3,481
1.64 Avg mills
250,000
175,000
$287
31.5
5,513
5,800
350,000
245,000
$402
31.5
7,718
8,120
Harwinton
150,000
105,000
$165
31.9
3,350
3,515
1.57 Avg mills
250,000
175,000
$275
31.9
5,583
5,858
350,000
245,000
$385
31.9
7,816
8,201
Note: The tax burden from Region 10 is shared based on the number of students enrolled from each Town. Bonds are issued for only the town's portion of the project for a 20-year project period. Actual bond rates are based on the interest rates at the time of borrowing. Actual Property taxes are affected by the grand list, population growth, and the budgets of the two towns.
*The above estimates were provided by our financial advisors based on current rates and projected construction cost and schedule
10/22/03
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