Swampscott property tax bills may increase to fund capital projects

SWAMPSCOTT – The average homeowner in town could see a $120 surcharge on their property tax bills to pay for capital requests.According to a report dated Jan. 31, the Capital Improvement Committee is recommending for the first time that some capital projects get funded through a capital outlay expenditure exclusion procedure.In the report, the Committee recommends using the procedure to fund $450,000 in capital projects, which would result in a one-time tax surcharge.Proposition 2 1/2 allows a community to finance expenditures through a one-year only property tax surcharge with a capital exclusion vote.The expenditures would include $300,000 for a new fire engine and $150,000 for the first year of a 10-year road improvement plan.According to the report, the purchase of a $300,000 fire engine would cost the average homeowner a one-time estimate tax surcharge of $80. The cost for the first year of the road improvement program would cost the average homeowner an additional $40 a month in property tax surcharges for the first year. The report also states the Committee is committed to long term planning.”A 10-year plan would provide for the rework of many of our streets in accordance with a master plan that has already prioritized town roads,” the report states.The report said the town would choose whether to fund the program through the tax charge in the first year.”In each subsequent year, the townspeople would choose whether or not to continue funding and whether or not the road improvement program is a priority,” the report reads.If the town did decide to fund the road improvement program each year for 10 years, it would cost the average property $400 over a 10-year period.According to the report, which was sent to the Finance Committee, “In a capital exclusion vote, the choice whether or not to approve a purchase will rest with Town Meeting and town wide voters, interest on long term borrowing can be averted and there is the certainty that a specific town need will be addressed.”