New Fairfield, CT Schools Ask For $109 Million
By Don Fabrizio-Garcia, Owner/Broker/Trainer - Fab Real Estate
(Fab Real Estate)
The New Fairfield, Connecticut school superintendent is seeking $109 Million to fund repairs in three district schools: Meeting House Hill School, New Fairfield Middle School and New Fairfield High School. It is estimated that after state contributions, the amount of money required by the town will be more than $78 Million. The superintendent plans to finance the project through bonding over the next 20 years. This bond would then be paid over the next 20 years by the homeowners of New Fairfield. For a home with an assessed value of $300,000, this proposal would add between $900 and $1,300 per year on top of residents' current property taxes. Based on New Fairfield's current mill (property tax) rate of 19.07, the homeowner of the above-mentioned residence assessed at $300,000 pays $...
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