Later this month I start my first term as Selectman in Bow. Below are a few thoughts about increased expenditures the taxpayers may be facing.
The public safety building has been offered at a price $5,000,000, with approximate interest of $2,300,000, bearing in mind this does not include some site work, heating, ventilation, and air conditioning.
Other projects to consider prior to voting this Thursday:
• According to the CIP, a new community building for the sum of $4,000,000 (interest of $1,800,000?);
• School Building renovations of approximate $5,200,000 (interest of $2,400,000?);
• Also noteworthy, the school board just increased the budget beyond the budget committee’s recommendations, including all day kindergarten, which is an $85 increase on a $250,000 assessed value.
I find the $20,700,000 figure to be rather daunting for a town of Bow’s size, financially speaking.
In regards to time frames, these projects could be implemented in just a handful of year resulting in overlapping bonding and a significant tax burden.
Finally, we all had to take a deep breath when we read about the Bow power plant being sold, which currently pays 17% of the taxes in Bow. What will be the impact of the sale? Any predictions at this time are mere speculation at best, and therefore the financial impact over the years to come is unknown.
Considering the numbers, I’m truly concerned about the likely tax ramifications of these sizable projects. How will Bow attract new families and businesses if the tax rate increases in a significant manner?
9 Van Ger Drive
Bow, NH 03304