Keep Framingham Affordable
Working to Keep Your
Every tax is a pay cut.
I've made different assumptions to come to my $186 per household.
I suspect that our town manager lowballed it to make it look more attractive.
|$86,000,000 loan at 5% over 25 years||Total cost: $150.8 million|
|Monthly payment = $502,747||Annual payment = $6.032 million|
|Residential taxpayers||18,160||Tax rate per $1000||$13.31|
|Commercial taxpayers||963||Tax rate per $1000||$29.68|
Residential share: 56% x $6.032 million = about $3.378 million
Number of residential parcels: about 18,160
Average annual payment per residential parcel: $ 3.378 million / 18,160 = $186
George King made other assumptions.
Many taxpayers will easily see $500 increases or more.
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