COSTS FOR THE PROPOSED NEW POLICE STATION

The Lanesborough tax rate for the current fiscal year is $20.28 per $1,000 of assessed valuation.

A 40 year bond for $4.3 million to fund a new police station will add $.38 to the tax rate.  The new rate would be $20.66.  This is a favorable time to borrow, so the Town can likely secure a 2% loan.  

The average value of a home in Lanesborough is $240,896.  The dollar increase in taxes on an average home will be $91.54.

If borrowing is delayed and interest rates rise to 3%, the dollar increase in taxes on an average home will be $105.99.