How Much Will Taxes Increase Due to the Library Project?

Reading voters agreed to fund the Reading Public Library renovation project 65 to 34 percent at the polls this week. What does the Debt Exclusion override mean for the town and how much will taxes go up?

The estimated cost for the project is $14.9 million. However, now that residents supported the project at the polls, Reading will secure a $5.1 million grant from the Massachusetts Public Library Construction Program, according to the Daily Times Chronicle. As for the tax increase, a resident living in a $400,000 home is looking at an additional $150 increase on their tax bill for the next 10 years to fund the project, the Chronicle said.

A project manager and architect need to be selected for the project and library operations will need to be moved temporarily before they break ground, the Chronicle said.

“This is wonderful news,” said Library Director Ruth Urell in the article. “We will be restoring a beautiful and cherished historic building to serve as Reading’s library well into the 21st century. The renovations and addition will allow for a library design that meets all of the community’s needs, as well as eliminating safety and compliance concerns.”