Want to know how much the new high school will cost you?

Lexington residents can now estimate how the proposed new high school would affect their property taxes through a Tax Impact Calculator. The tool is designed to give taxpayers a clearer sense of the financial impact ahead of the December 8 debt exclusion vote, when residents will have the opportunity to weigh in on whether to temporarily increase property taxes to pay for the new building.

Residents can use the calculator by entering their assessed property value, which is available through the town’s Vision Government Solutions database. The tool then generates a table showing the estimated tax contributions for the new school building, along with graphs illustrating both the dollar amount and the percentage of their property tax dedicated to the project.

The new high school, with a projected cost of nearly $660 million, will be partially funded by a $111 million grant from the Massachusetts School Building Authority and other reimbursements. The remaining $539.7 million is expected to be financed through tax-exempt municipal bonds, to be repaid by Lexington households over 30 years.

The town has taken steps to limit the financial impact on residents. According to the town’s website, it has “created capacity within the existing tax levy to pay approximately $7.06 million of debt service annually.” Residents can also expect the tax increase to rise gradually after 2027, rather than spike sharply during construction. This is made possible by the town’s Capital Stabilization Fund (CSF), described on the website as “a reserve fund specifically to support expenses related to large capital projects.”

The percentages are the same for all residents, regardless of property value. The calculator shows that the rate peaks at 7.6% in 2036, then gradually declines over the next 20 years. For a home assessed at $1 million, that would mean a peak of roughly $1,300 per year. For a $2 million property, the cost would double to about $2,600. 

Ultimately, the Tax Impact Calculator is designed to guide residents ahead of the debt exclusion vote. If approved, the measure would let Lexington temporarily raise property taxes to fund the new school, overriding the state law that normally limits annual increases to 2.5%—a major step towards beginning construction.