New school still under budget as work nears halfway mark
The construction of the new elementary school is roughly 40 percent complete, a month ahead of schedule, and well under-budget, according to reports at the Nov. 2 School Building Committee Meeting.
Of particular note is the tax impact that residents can expect.
Before the ballot initiative was passed, the project was estimated to cost 82 cents per $1,000 of assessed home value over a 15 year period. At that point in 2018, the average single family home had an assessed value of $258,143, so the annual cost to its owners would be $211.61.
Because money was borrowed by the town at exceptionally low interest rates and bids came in under projection, the actual cost to taxpayers will be approximately half of the original estimate.
Taxpayers can expect to pay 36 cents per $1,000 of assessed value. The assessed value of homes in town has risen. In 2020, the average single family home is assessed at $304,950, so the average homeowner can expect to pay $109.78 annually for the 15 year period of the loan.
Construction of the building is ahead of schedule, with some elements nearly complete.
The roofing is about 95 percent complete, and the exterior framing and fireproofing is nearly complete as well.
Workers are making the building weather-tight for the winter with temporary window blocks and air/vapor barriers so the interior can be heated to allow work to continue through the winter.
The building’s brick veneer is about 70 percent complete.
Over the next few weeks, crews will complete the roof and continue work on exterior masonry, interior framing, drywall, and utilities. Windows will be delivered in December.
To see more photos and live video from the site of the new school, go to www.warehamelementaryschool.org or search for “Wareham Elementary School Building Project” on Facebook.