Town Hall building project
Meeting of the Electors
Who: All eligible Townsend residents of legal voting status
What : Approve construction of a new town hall at the
cost not to exceed $1.9 million. Yes or No
Where: Townsend Fire Station, 17937 Front Street, Townsend, WI
The current town hall is past its usefulness for the many occasion that are held here. Our current town hall is a pole building construction. The septic system has been condemned and cannot be repaired, replaced or moved on the existing location. The lack of insulation means high fuel costs, the electrical system is out of code, the floor buckles with the humidity and the attic and sidewalls have evidence of mold
The new building will be stick built with 6-inch walls to get an R-21 factor. The update and increase to the office space will include a firesafe records storage area and meeting room. The hall will include a kitchen area with large retractable service windows and a storage room for the table and chairs, along with audio/visual equipment
What will it cost the taxpayer?
Annual Tax Revenue - $543,591
Townsend parcel count = 2711
Average annual town tax = $201
Townsend total valuation (2021) - $314,158,500
Average assess value - $314,158,500/2711 = $115,883.
Town Hall Assumptions
A $1.9M loan amortized for 30 years @ 4% interest paid monthly in the amount of $9,071 ($108,850 annually) would change the Town rate to 2.182559464, and the overall milrate to 13.30627414. An increase of $35.00 on a $100,000 property for each of the 30 years of the loan or $1048 for the life of the loan running full term