A new online calculator will estimate the potential impact to your Town of Creston taxes should the Fire Hall referendum be approved. The estimate is based on a 30-year loan, an interest rate of 3.9 per cent and the maximum borrowing amount of $4.5 million. The interest rate and borrowing amount have not been finalized yet. Grants and other cost savings would reduce the loan.
The calculator takes into account assessed property value for both a home or business (based on 2018 rates), divides it by $100,000.00 and then multiplies it by $22.60. If your property is worth $400,000.00, your annual cost would be $90.40.
You can visit the Town of Creston’s website to learn more and use the online calculator. Town of Creston representatives will also be on hand at the 100th Annual Creston Valley Fall Fair September 7 and 8 to speak with the public. A booth will be set up with members ready to answer any questions about the project and its costs.
For the referendum, residents are asked to either approve the “Protective Services building Loan Authorization Bylaw No. 1872, 2018” thus adopting a new building advisory committee to help facilitate construction. If the referendum fails, the existing fire hall will remain with limited function. Workplace deficiencies will be mitigated by short term solutions.