Cost

The new Milton Fire/EMS Station is projected to cost 2.864 Million Dollars, an increase of 164,100 dollars over last years projected 2.7 million dollars.  Although this is the highest possible price the building will cost if constructed this year, it is the hope that bids will come in lower and the building committee will be in a position to return the cost savings to the town. Construction costs continue to rise and bond rates have risen in the past year. This chart shows what our station would have cost to build in past years and projects the estimated additional cost we will have to pay if we wait.The proposed fire station is to be paid through a bond for 20 years.  The projected interest rate for the bond is 4.5% up last year from 3.25%. As it was last year this estimated rate is on the conservative side. A 20-year bond was chosen because it produced significant savings in interest while only increasing tax bills minimally.  To put the cost of the fire station in to perspective to the average homeowner we obtained information from the New Hampshire Municipal Bond Bank.  The bond bank provided the committee with the interest rate (4.5%), the valuation of the town, and the effect on the town’s tax rate, 78 cents, up from 63 cents last year.  This means that if your home is valued at $150,000 your annual tax bill will increase by $117 up from $94.50 last year.  To calculate the effect on your own tax bill simply multiply your home’s value by 78 cents then divide that number by 1,000.  To determine what this will cost on your bi-annual bill divide that number in half.

As a voting resident, you need to determine if a station which provides the members a comfortable training and daily operation space, along with the storage and maintenance of the equipment; is important enough to cost the average Milton resident approximately $117 a year.  Is it also worth $117 on your tax bill to ensure the fire and ambulance service will be in a position to grow for the future, to be able to accommodate the needs of the town now and for many years to come? The building committee wishes to provide the facts as we know them and allow you the voting public to make the decision.  We understand the cost is high but ensure you that we have put together a package that meets the needs of today and tomorrow while balancing budgets with quality.  We believe we have put together the most appropriate package for the Town of Milton that we possibly could.

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