The fate of a new high school hangs in the hands of voters this weekend.
Polls are open from 9 a.m. to 6 p.m. Saturday for a special election to decide whether to temporarily raise taxes to pay for a new high school.
Voting is at Furnace Brook Middle School, 500 Furnace St. off Route 139.
Town meeting voters approved the $101 million school project Thursday night. The vote is subject to approval at a special election to exempt project debt from the property tax limits of Proposition 21/2, the state’s tax limiting law.
If approved, the town would borrow up to $53.6 million, starting in July 2015, to pay the town’s share of a three-story, 267,000-square-foot school. The balance of the $101 million project would be covered by the Massachusetts School Building Authority.
If the override fails, town officials would have about four months to decide whether to propose the state-backed plan again, or explore other options to repair the existing high school at 167 Forest Street.
Close to 2,000 voters attended town meeting Thursday night to vote on the issue. The plan was approved by nearly 89 percent of voters.
If the override is approved, the owner of an average $383,000 house in Marshfield would pay an additional $456 in property taxes in fiscal year 2016. Debt payments would decline over the life of the 20-year-bond, to about $242 by fiscal year 2035.
The figures are based on a loan with a projected 4.85 percent interest rate,
calculated by the town’s treasurer.
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