Correction: A previous version of this article misstated the interest-adjusted costs of building Gillette Stadium and TD Garden. Those references have been removed from this article.
The average Andover residential property taxpayer would see their tax bill go up as much as $2,215 over the next 30 years to pay for a new high school if early cost estimates released this week by the building committee hold up through the schematic design process.
The Andover High School Building Committee released preliminary tax estimates for “Campus 2 with New Theater,” one of the three plans under consideration. At $480.9 million, it’s the cheapest of the three remaining plans. The other two plans, including a renovation of the existing school and a new school with upgrades to the Collins Center would cost $567.9 million and $503.8 million, respectively.
The projected tax increases are based on an assessment of $858,952. The table below shows the estimated taxes for the average, single family home based on potential interest rates the town would pay on the debt to build Campus 2 with Theater:
The building committee has stressed for months the preliminary estimates released Thursday are “high level,” and a more accurate cost estimate would not be finalized until architects complete the more detailed schematic design. On Monday, the committee voted to delay requesting $1.3 million for the schematic design at May’s town meeting over concerns about the town nearing its state-mandated debt limit.
The committee has also acknowledged getting Town Meeting and voter approval for a new school without help from the Massachusetts School Building Authority would be a tough sell, even before the cost estimates put the potential price of a new school near a half billion dollars.
Wikipedia photo.