“Will my taxes go up?”
We know this is the question on everyone’s mind. We are here to assure you that a yes vote for the Library Expansion Bond will not raise your taxes.
Here’s how it works
Granby voters will go to the polls on Dec. 8 to decide if the Town should borrow $6 million through municipal bonding. So, what does a bond actually mean for you as a taxpayer? Put simply, if voters approve the proposal, the Town of Granby would borrow the money through municipal bonds and repay it over a period of years. Much like a mortgage, municipal bonds allow a community to finance a major capital project over time rather than paying for the entire project upfront. The annual payments are incorporated into the Town’s debt service, which is accounted for as part of the Town’s regular budget. Municipal bonds are a common way for towns and cities to finance large capital projects such as schools, libraries, roads and other public facilities.
Your yes vote will also allow the spending of $7.5 million toward a library renovation and expansion project. This is the total of the $6 million bond AND $1.5 million that will be raised through donations and grants. The goal of the Campaign Cabinet, in addition to providing information to the townspeople, is to help raise funds to cover the remaining $1.5 million needed for the proposed expansion. At the time of publication, the Capital Campaign Cabinet raised $350,000. That’s over 20 percent before any votes have even been cast!
All funds would go toward: architectural and engineering work; designing and planning the layout of the spaces; actual construction; surveying, inspecting and testing to ensure that the space is up to code; and repairs/reconstruction of the current spaces.
Key dates as we move toward town vote
Oct. 12, 10:30 am: Coffee with the Cabinet: Visit the library for light refreshments and time to informally meet the cabinet members and ask us questions.
Oct. 24, 10:30 am: Town Hall Meeting at the library. Another chance for an open forum where the cabinet members and the library director will be answering questions with a presentation.
Dec. 1, Public Hearing. This event is hosted by the Town and is required by the town charter. All proposals vying for bond funds will be presented at this hearing.
Dec. 8, Bond Referendum at Town Hall, 8 a.m. to 8 p.m.
The Capital Campaign Cabinet hopes you will join us in voting YES on Dec. 8 in support of our Library Renovation and Expansion Project.