Financial & Tax Impact on Community
Stroudsburg will struggle to survive with the projected loss of revenue!
These losses will give local officials a need to potentially increase all taxes.
UPDATE: Changes are being made.
The impact will be less and closely monitored for the minimal impact as possible.
County
$35,258.81
loss of tax revenue
Business
51
businesses will be acquired or affected by loss of land.
$31,657.23
lost borough tax revenue
40
residences
will be acquired
$32,234.34
lost borough tax revenue
Individual
School
$257,617.20
loss of tax revenue
update!!!
Financial & Tax Impact on Community
Build Alternative 2D will require the following property acquisitions
Residences 66
Non-residences 26
Undeveloped 8
TOTALS 92
* The number of residential units may be slightly higher than reported here because some houses may contain multiple units.
Build Alternative 2D would also require
175 partial property acquisitions
consisting of
101 residential
46 non-residential &
28 undeveloped parcels
The acquisition of properties for the project would reduce the tax base for
Monroe County, as well as the Borough of Stroudsburg and Stroud Township
The estimated tax reduction is approximately 7%.
Estimated Total Property Tax Revenue Loss
$325,858
Estimated Municipal Tax Revenue Loss
$44,612
County Total Property Tax Revenue
$46,483,361
Municipal Tax Revenue
$6,265,922
Change as Percent of Total County Property Tax Revenue 7%
Change as Percent of Municipal Tax Revenue 7%
TOTAL LOSS OF TAX REVENUE
$470,000
*NOTE - Information found in
Environmental Assessment Table 6: Fiscal Impacts of Property Acquisitions for Build Alternative 2D