CCA Announces Development Cost Calculator
Ever wondered what the tax impact of a new subdivision is?
A developer’s consultant recently defended the high cost to the taxpayers caused by a proposed subdivision by saying that all residential development costs the town more money than it pays in taxes. We wondered if that was true, which prompted us to create a Cost of Development Calculator to make this calculation easy for anyone.
For instance, our calculator begins with the following example inserted. A 17 home subdivision with homes assessed at an average of $350,000 and with 0.59 students per house. The net yearly cost to the town from this new subdivision is $120,228.93.
Our calculator has easy to change values for average assessed value of houses in the subdivision, average number of public school students per dwelling unit, and number of houses in the subdivision. Some variables only change once per year, such as the Charlestown tax rate, tuition cost per student in dollars, and municipal costs per dwelling unit.
After you have calculated the cost or revenue from a proposed development you can use our Tax Impact Calculator to determine how the tax rate may be changed as a result.
You might want to try the calculator on your own existing neighborhood or just your own house. Does your neighborhood represent net revenue or a net cost to the town?
Let us know what you think