Mark K
Elite Member
- Joined
- Jan 27, 2004
- Professional Status
- Certified Residential Appraiser
- State
- Indiana
There's a high school there now...and there will be a new high school in its place.
Aside from some additional construction traffic for a short time, I don't see any scenario where it would adversely affect local real estate values. It could potentially be considered a benefit since some parents will want the kids attending the new school. New schools are more desirable than the old schools which were likely built in the 60's and 70's to accommodate the Baby Boom generation.
And any effect on the local taxes have already occurred since the construction bonds have been approved and sold and the cost of repayment is already included in the property tax. At least that's how it works in this state. I've done quite a few school appraisals for bond issues and the bonds are sold months, sometimes a year or two, prior to start of construction.
Aside from some additional construction traffic for a short time, I don't see any scenario where it would adversely affect local real estate values. It could potentially be considered a benefit since some parents will want the kids attending the new school. New schools are more desirable than the old schools which were likely built in the 60's and 70's to accommodate the Baby Boom generation.
And any effect on the local taxes have already occurred since the construction bonds have been approved and sold and the cost of repayment is already included in the property tax. At least that's how it works in this state. I've done quite a few school appraisals for bond issues and the bonds are sold months, sometimes a year or two, prior to start of construction.