The owner of residential property valued at $682,300 — Tisbury’s median — would pay an additional $635 in property taxes for the Tisbury School renovation and addition project, finance director Jon Snyder told The Times.
Voters at town meeting June 13 will be asked to borrow up to $55 million for the school project — $53 million for the construction, and the rest to pay for a portion of a temporary school to house students during the project. At the town election June 22, the Proposition 2½ debt exclusion will be on the town ballot, with no mention of the price tag. Voters will be asked a yes or no question to exempt the project from Proposition 2½.
Snyder said the town will seek a 30-year bond at 2.4 percent to pay for the school project, and that debt service will remain the same for the length of the borrowing. The overall project will add 93 cents to the town’s tax rate, or about a 10 percent increase, he said.
Three years ago, voters rejected a ballot question to build a new school for $46.6 million. The town would have received more than $14 million in state funds for that project under a Massachusetts School Building Authority (MSBA) program. There are no state funds for the project going before voters in June.
A second ballot question will ask voters for $5 million to pave certain streets in town. Snyder said he hasn’t calculated the impact on taxpayers, but suggested it would be less than 15 cents on the tax rate.
Zoom sessions scheduled
The chair of the Tisbury School building committee, Harold Chapdelaine, and architect for the project Chris Blessen have scheduled a series of Zoom sessions to allow voters to learn firsthand what is being planned, and ask questions in real time about the renovation and addition of the school, according to a press release.
During the sessions, the school design decisions, budget, and community use will be discussed. A list of FAQs about the project has also been created. The tax implications are slightly different from what Snyder told The Times, because the median house value is rounded to $680,000.
Thursday, May 6, 4-5 pm
Wednesday, May 12, 4-5 pm
Thursday, May 20, 4-5 pm
Tuesday, May 25, 4:30-5:30 pm
Thursday, May 27, 4:30-5:30 pm
Thursday, June 3, 4:30-5:30 pm
Thursday, June 10, 4:30-5:30 pm