3rd Crossing Tax Implications Claims: The 3rd Crossing does require a tax bill increase. The 3rd Crossing prolongs the need to levy the yearly 1% capital levy.

3rd Crossing Tax Implications The 3rd Crossing requires a tax bill increase. A $2 Million increase in expenditures is about equal to a 1% increase in taxes Therefore $30 Million project ≈ 15% tax bill increase Forever

3rd Crossing Tax Implications The 3rd Crossing requires a tax bill increase. Year Tax bill Tax level Tax rate increase year 0 100   year 1 101 1% year 2 103.02 2% year 3 106.1106 3% year 4 110.355 4% year 5 115.8728 5%

3rd Crossing Tax Implications The 3rd Crossing requires a tax bill increase. Somewhere along the years, there is (has been) a 15% tax bill increase that has already been factored through the 1% capital levy. Because the bridge is not free and The municipal portion is paid by property tax.

3rd Crossing Tax Implications The 3rd Crossing prolongs the need for the Yearly 1% capital tax levy The 1% tax levy is temporary; until we reach sustainable capital spending levels. Sustainable capital spending means: The investment required to maintain capital assets at a level that will support municipal services requirements.

3rd Crossing Tax Implications The 3rd Crossing prolongs the need for the Yearly 1% capital tax levy The 1% tax levy is temporary; until we reach sustainable capital spending levels. If we add projects to the list of capital assets, we will need more capital funds to: Pay for: $30 Million Maintain: $1.5 Million/year And replace: $180 Million (in 2019 dollars)