Tax Impact

So, how much would this project cost?

During its meeting on September 28, the Select Board adopted a Project Scope and Budget for the Fire Station 1 project in the amount of $39,981,158, which is a reduction of $1.62 million (4%) compared to the previous proposal that went before voters in 2025.

This is the all-in cost, meaning it would cover all aspects of the Fire Station 1 project from the vote at Town Meeting (October 26) and at the ballot box (November 3) through move-in. Covered items would include:

  • Design development

  • Permitting

  • Construction bidding and monitoring

  • Construction

  • All site and civil work (such as stormwater, drainage, parking, fields, etc.)

  • Contingency

Funding Plan

How would the project be funded?

The proposed financing plan combines $34.8 million in borrowing, to be repaid through a voter-approved debt exclusion, with $5.18 million in available Town funds. These funds include free cash, proceeds from real estate sales, meals and hotel tax receipts, and recreation revolving funds.

Using these available funds reduces the amount the Town needs to borrow by approximately 13%. Based on the current projection of a 30-year borrowing term at a 4.75% interest rate, this would reduce total principal and interest payments by approximately $10 million compared with borrowing the full project cost, lowering the projected annual taxpayer impact. Actual savings and tax impacts will depend on the final borrowing terms.  

How Much Will Taxpayers Pay?

Preliminary tax impact forecasts an estimated annual impact of $27.42 per $100,000 of assessed residential property value.

Estimates assume $34.8 million in borrowing over 30 years at a 4.75% interest rate, with approximately level annual debt payments. Actual amounts and timing may change based on final borrowing terms, property assessments and the allocation of taxes between residential and commercial properties.

In comparison, the 2025 FS1 project estimated an impact of $30.86 per $100,000 of assessed residential property value with an average (mean) annual single family tax bill cost of $372.

To calculate your tax impact, follow this formula:

Home Assessed Value ÷ 100,000 X 27.42 = Annual Estimated Tax Impact