Debt Exclusion 2008-2009 Impacts

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 Debt Exclusion 2008-2009 Impacts

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Join date : 2009-01-19
Age : 69
Location : South Seekonk

PostDebt Exclusion 2008-2009 Impacts

I have received the debt exclusion schedule from Bruce Alexander (Finance Director) and uploaded it. You can see it by going to this link ( Debt Exclusion Table) It is a PDF documents and I have added some totals and calculations to the original document to assist. There are a couple of points that should get your interest.

1) The school projects have reimbursement dollars. This serves to lower the total impact of debt exclusions on the property taxes.

2) North School was paid off last year. However; you will notice that there is a $150,618 reimbursement this year. That should continue for a few more years. The effect is that the total debt exclusion impact on taxes will be lower by that amount for the next few years and then increase.

3) The effect of the school projects is reduced by the reimbursements.
(NOTE: There is NO GUARANTEE that the state will continue these
although they have never, to my knowledge, stopped paying
once the reimbursements have started. These times are
different though. Who knows what will happen.)

4) The impact of debt exclusion is the TOTAL NET for the year.

Feel free to ask any questions and or comments
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