Homeowners residing in a property assessed at $353,000 will see a $71 increase on their tax bills in fiscal year 2014 — up from $45 in the prior plan — and a $212 increase in fiscal 2015, up from $85. They will pay $212 again in fiscal 2016, down from $216, and the same amount every year after that until the town covers its debt.
The preliminary payment method had residents paying an additional $260 in 2017.
With the plan Nutting presented on Wednesday, taxpayers would over the life of the project pay a total of $5,440, rather than $6,612.
"I’m very comfortable from where we’re sitting right now," said School Building Committee Chairman Tom Mercer, speaking remotely from China. "Although we have that ... spike, this is really a no brainer; it just saves everybody money."
Read more: http://www.milforddailynews.com/news/x1433792874/Franklin-adopts-new-payment-plan-for-new-high-school#ixzz2MqewGDq7
For the full report on the entire agenda of the Town Council meeting, you can visit this link