The following information reflects the revised design and cost information that is being proposed for the 2022 bond vote.
Total project costs are summarized below.
|Construction ‘Hard Costs’||$4,796,000|
|Owner ‘Soft Costs’|
Design & Testing
Security, Data & Technology
Utility Charges & Bond Costs
|TOTAL PROJECT COSTS||$5,574,980|
Proposed 2022 Bond Vote: $590,510 less than 2021 Bond Amount
Building Cost Savings:
- Reduce Addition Square Footage (eliminated Flex Classroom & Gym Storage)
- Simplified design of addition
- Utilized more cost-effective building materials
- Reduced renovation work
Sitework Costs Savings:
- Redesigned addition to avoid moving road and existing transformer
Soft Cost Savings:
- Lower building costs resulted in lower design/admin fees and contingency
Projected tax impact figures are still being reviewed and the following table includes options for a 10-year, 15-year, and 20-year bond term from the New Hampshire Municipal Bond Bank. Tax impact estimates are based on level principal payments and the 2021 town assessed valuation of $811,883,203. If the project passes, the school board will apply for use of impact fees to offset the interest payments for the first year of the bond.
|10-Year Term||15-Year Term||20-Year Term|
|Estimated Interest Rate||1.50%||2.00%||2.50%|
|Year-1 Est. Tax Rate per $1,000 Valuation||$0.17||$0.17||$0.17|
|Year-2 through Final Year Average Est. Tax Rate per $1,000 Valuation||$0.74||$0.53||$0.43|
|Estimated Average annual taxpayer impact (assumes a $350,000 assessed property)||$259||$184||$152|