Tax Impact Dashboard
The Town maintains a five-year Capital Improvement Plan and annually approves a Capital Budget that advances certain projects and equipment. Capital projects or equipment of higher value and/or extended longevity are typically funded with long-term financing, in most cases through the issuance of general obligation bonds.
As we consider high cost items, such as a new school building, community center or expansion to the Library, it is important to be able to estimate the impact on taxpayers. To this end, the Town developed a model that considers all factors that ultimately impact a property tax bill, developed during the discussion on the potential expansion to the Library in 2022. The model is open-sourced, meaning the user can enter their preferred assumptions and the model will calculate the impact.
Use our new dashboard to quantify the impact that a major capital project would have on a household’s taxes. As currently configured, the model includes all the higher profile projects such as a library expansion, new school, and community center, and their expected impact to the Town’s fiscal environment. The model is set to show a tax bill breakdown for a property currently assessed at $400,000. Enter the taxable assessed value of your home for a breakdown of your future tax bill with specific projects incorporated.
Since this model and dashboard were developed in-house, it was essential to have it reviewed and critiqued by independent firms for functionality, validity and appropriateness. Input reviewed from the independent sources has been incorporated into the model and dashboard. See their findings and comments: GPCOG, BerryDunn.