One of the most direct and immediate benefits the communities along the proposed Northern Pass route will receive is increased property tax revenue. In its first full year of operation, the project will pay an estimated $35 million to $40 million in property taxes. Breaking this down into different categories, it will mean in the first year:
Recently, Northern Pass reached out to all of the incorporated communities along the route to notify them of the expected tax revenue the project will bring over the next 20 years. In Stewartstown, for example, the estimated Northern Pass investment (which is an increase to the town’s tax base) in the first year after construction will be $69.9 million. Once built, Northern Pass will represent 45 percent of the town’s overall property value and yield an estimated first-year payment for municipal and local school taxes of $858,361. That would bring an estimated first year homeowner tax benefit of up to $830 per $100,000 in home value.
Franklin City Manager Elizabeth Dragon said in her pre-filed testimony for the NH Site Evaluation Committee proceedings that the revenue from Northern Pass – between $3.2 million and $7 million – “will have a transformational effect on the City of Franklin.”
“In a community where one out of every two children is living at or below the poverty level, this is huge,” said Dragon. “Revenue from the taxes paid by Northern Pass Transmission will benefit the public by, amongst other things, allowing the city to better fund its schools and maintain its roads.”
Dragon went on to say that the city has been forced to convert some paved roads to dirt to save money, hindering economic development. By adding a substantial source of tax revenue, Franklin can begin to address these challenges, she said.
Here is the range of tax benefits for some other communities along the route.
Allenstown: $443,056 – $848,069
Bethlehem: $842,557 – $1.5 million
Concord: $639,908 – $982,958
Deerfield: $1.7 million – $2.7 million
Northumberland: $435,791 – $793,113
Plymouth: $716,431 – $1 million
Woodstock: $1 million – $1.9 million
To learn more about the infrastructure investment Northern Pass will be making in your community and the tax payments that will result, go to www.northernpass.us/towns.htm.