The impact of the proposed Charter High School |
| Y 1 | Y 2 | Y 3 | Y 4 | Y 5 | Y 6 | Y 7 | Y 8 | Y 9 | Y 10 | |
| Tax | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 |
| Acc. Tax | $ 1,000 | $ 2,000 | $ 3,000 | $ 4,000 | $ 5,000 | $ 6,000 | $ 7,000 | $ 8,000 | $ 9,000 | $ 10,000 |
| Cap. Gain | $ 49,000 | $ 48,000 | $ 47,000 | $ 46,000 | $ 45,000 | $ 44,000 | $ 43,000 | $ 42,000 | $ 41,000 | $ 40,000 |
| Return | 4900% | 2400% | 1567% | 1150% | 900% | 733% | 614% | 525% | 456% | 400% |
In fact, it would take 50 years for a non-homesteaded property to start "losing" money. That is just considering a conservative 10% appreciation in the initial five years and no further property appreciation.
| Y 11 | Y 12 | Y 13 | Y 14 | Y 15 | Y 16 | Y 17 | Y 18 | Y 19 | Y 20 | |
| Tax | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 |
| Acc. Tax | $ 11,000 | $ 12,000 | $ 13,000 | $ 14,000 | $ 15,000 | $ 16,000 | $ 17,000 | $ 18,000 | $ 19,000 | $ 20,000 |
| Cap. Gain | $ 39,000 | $ 38,000 | $ 37,000 | $ 36,000 | $ 35,000 | $ 34,000 | $ 33,000 | $ 32,000 | $ 31,000 | $ 30,000 |
| Return | 355% | 317% | 285% | 257% | 233% | 213% | 194% | 178% | 163% | 150% |
| Y21 | Y22 | Y23 | Y24 | Y25 | Y26 | Y27 | Y28 | Y29 | Y30 | |
| Tax | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 |
| Acc. Tax | $ 21,000 | $ 22,000 | $ 23,000 | $ 24,000 | $ 25,000 | $ 26,000 | $ 27,000 | $ 28,000 | $ 29,000 | $ 30,000 |
| Cap. Gain | $ 29,000 | $ 28,000 | $ 27,000 | $ 26,000 | $ 25,000 | $ 24,000 | $ 23,000 | $ 22,000 | $ 21,000 | $ 20,000 |
| Return | 138% | 127% | 117% | 108% | 100% | 92% | 85% | 79% | 72% | 67% |
| Y31 | Y32 | Y33 | Y34 | Y35 | Y36 | Y37 | Y38 | Y39 | Y40 | |
| Tax | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 |
| Acc. Tax | $ 31,000 | $ 32,000 | $ 33,000 | $ 34,000 | $ 35,000 | $ 36,000 | $ 37,000 | $ 38,000 | $ 39,000 | $ 40,000 |
| Cap. Gain | $ 19,000 | $ 18,000 | $ 17,000 | $ 16,000 | $ 15,000 | $ 14,000 | $ 13,000 | $ 12,000 | $ 11,000 | $ 10,000 |
| Return | 61% | 56% | 52% | 47% | 43% | 39% | 35% | 32% | 28% | 25% |
| Y41 | Y42 | Y43 | Y44 | Y45 | Y46 | Y47 | Y48 | Y49 | Y50 | |
| Tax | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 |
| Acc. Tax | $ 41,000 | $ 42,000 | $ 43,000 | $ 44,000 | $ 45,000 | $ 46,000 | $ 47,000 | $ 48,000 | $ 49,000 | $ 50,000 |
| Cap. Gain | $ 9,000 | $ 8,000 | $ 7,000 | $ 6,000 | $ 5,000 | $ 4,000 | $ 3,000 | $ 2,000 | $ 1,000 | $ - |
| Return | 22% | 19% | 16% | 14% | 11% | 9% | 6% | 4% | 2% | 0% |
A: What does it financially mean for the High School and Lifelong Learning Center initiative?
The initiative will not only pay by itself, but will produce additional revenue to the Village which could be used to finance potential school revenue shortfalls, enhanced community programs or other pay for other projects needed by the community. Back to questions
A: Is there real evidence supporting claims about good schools influencing the appreciation of real estate property values?
Most people are familiar with the adage that real estate values are determined by three basic characteristics—location, location, location.
Scientific data produced by many research projects in communities across our country confirm what most people sense: good schools command higher real estate property premiums, and excellent schools much higher prices.
Based on scientific data, we would expect proposed High School / Lifelong Learning Center will increase real estate property values by at least 10% during the first few years of operation. Additional upside potential would be expected as school quality is recognized.
In the case of Key Biscayne, the impact may be felt much sooner, perhaps as soon as the project is approved and shortly after construction begins, as we do not even have a high school today within our community.
It will not just represent an improvement, but a basic service many families and even childless families look for, and our community can not provide today.
Please read these reports if you would like to get scientific and unbiased information about how a good school can benefit you, an our entire community:
The impact of schools on housing values in Westchester County. Westchester County Business Journal.
The Impact of School Quality on Real House Prices. By David Brasington. Department of Economics. Ohio State University.
Neighborhood School Characteristics: What Signals Quality to Homebuyers? By Kathy J. Hayes, Federal Reserve Bank of Dallas and Professor of Economics, Southern Methodist University, and Lori L. Taylor, Senior Economist and Policy Advisor, Federal Reserve Bank of Dallas.
