Up-Island schools take next steps in capital projects - The Martha s Vineyard Times mvtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mvtimes.com Daily Mail and Mail on Sunday newspapers.
The Martha s Vineyard Times
School project to cost average taxpayer $738 per year
Finance committee authorizes use of $25,000 for ‘educational’ purposes for Tisbury School renovation.
Tappe s rendering of the southeast view of Tisbury School.
For the first time, Tisbury taxpayers are getting a sense of how much a Tisbury School renovation and addition project will cost them.
At a joint meeting held between the select board, school committee, and finance committee, before the finance committee broke off to its regular business, financial consultant Lynne Welsh offered an average tax bill increase figure for the project. Welsh said using a bond debt service option called “level debt,” which she found the committees were more inclined toward than another option called “Level Principal,” repayment of a $55 million bond debt over 30 years for an $800,000 home (deemed average for Tisbury) would amount to an $738 per year increase on the average property tax b