Economic Impact

A letter to the editor published via NJ PEN, entitled "To the Editor: Passing Athletic Referendum in Collingswood Means Mobilizing Seniors, Capping Costs", discussed the findings of the ALLCAPS (Alliance for Collingswood Athletic and Playspaces) survey conducted after the failed March 2018 bond referendum. Information reported from the editorial taken from survey data revealed; "About 80% of our respondents said they would be willing to pay $100/year in additional taxes to support an APS referendum. At higher tax levels, support falls off quickly. Seventy-four percent of respondents would not support a tax burden of $219/year, the estimated average burden in the March 2018 referendum" . In 2018, the majority of tax-payers reported they were not in support of a tax-burden of $219 per year. With an increase in the cost of living since 2018, how can the district ask people to afford a financial burden at this level proposed by this plan? 

An article published by NPR entitled, "U.S. home prices have far outpaced paychecks. See what it looks like where you live" revealed home prices are up 47% since 2020. As if that fact isn't concerning enough, the article goes on to reveal a bleak outlook for Americans and homeownership; 

"Median home sales prices last year were about five times the median household income, according to tabulations in a newly released report by the Harvard Joint Center for Housing Studies, and there are signs it could get worse. The double whammy of high prices and high mortgage rates has 'left homeownership out of reach to all but the most advantaged households,' says Daniel McCue, a senior research associate at the center."

The article goes on to assert, "For those looking to buy — as well as for current homeowners — rising property taxes and insurance rates are also adding to financial strain. According to Harvard's estimates, "The all-in monthly costs of the median-priced home in the U.S. [when adjusted for inflation] are the highest since these data were first collected more than 30 years ago."

Adding insult to injury, "This has made it even harder to close racial gaps in homeownership. In the first quarter of 2024, the report finds that just 8% of Black renters and 13% of Hispanic renters had enough income to afford the monthly payments on a median-priced home."

Are the supposed benefits of this referendum worth the cost for all of our community members?

Studies have shown that when neighborhoods lose a school, it can hurt property values and tax revenues. Public schools are gathering places that may be sites for other social services such as parent education, job skills classes, health services or distribution points for donations. When students have to travel farther to school, even by half a mile, it can lower participation in enrichment programs and make it harder for parents to get involved.

Makarewicz, Carrie. “Balancing education opportunities with sustainable travel and development.” Transportation, Land Use, and Environmental Planning, 2020, pp. 299–331, https://doi.org/10.1016/b978-0-12-815167-9.00016-5.