ARCHITECT'S ESTIMATE
The following is the cost estimate of the project based upon current prices and design elements. The final design will not be completed until after the bond vote. Many of the estimates below are based on the architect's expert opinion and experience in similar projects, and may be based on square footage.
Actual costs cannot be determined until final design plans are drawn and the project is put out for proposals.
TAX IMPACT
The annual cost of borrowing $33,500,000 for 30 years is $1,800,000 (this is using an interest rate that is much higher than today's--as we cannot predict what the rate will be when we borrow the funds several months from now).
Currently the average Oceanside District household pays approx. $314 per year in Library taxes.
This will add $140 per year per household--raising the average household's annual Library tax to approximately $454 per year.
HOW WE COMPARE TO OTHER LIBRARIES
We currently are 30th out of 54 Nassau County libraries in spending per capita. We would now be 15th (more or less even with North Merrick and Roosevelt--see the charts below)
The following is the cost estimate of the project based upon current prices and design elements. The final design will not be completed until after the bond vote. Many of the estimates below are based on the architect's expert opinion and experience in similar projects, and may be based on square footage.
Actual costs cannot be determined until final design plans are drawn and the project is put out for proposals.
TAX IMPACT
The annual cost of borrowing $33,500,000 for 30 years is $1,800,000 (this is using an interest rate that is much higher than today's--as we cannot predict what the rate will be when we borrow the funds several months from now).
Currently the average Oceanside District household pays approx. $314 per year in Library taxes.
This will add $140 per year per household--raising the average household's annual Library tax to approximately $454 per year.
HOW WE COMPARE TO OTHER LIBRARIES
We currently are 30th out of 54 Nassau County libraries in spending per capita. We would now be 15th (more or less even with North Merrick and Roosevelt--see the charts below)
The following information is provided by the Nassau Library System:
