It seems like the yearly cost calculation (19,146.11 /30 years = $638.20) ignores the time value of money. $19,146.11 30 years from now is only worth $5,778.22 today at 4%. The future value of 30 $378.49 yearly payments at 4%/yr is $21,227.59 ..
The cost of resurfacing will probably rise proportional to inflation, so it will cost more to resurface in the future as well .. but couldn't the city invest the funds to get 3-4% over inflation? Also, the yearly tax payments will rise proportionally over time.
The cost of resurfacing will probably rise proportional to inflation, so it will cost more to resurface in the future as well .. but couldn't the city invest the funds to get 3-4% over inflation? Also, the yearly tax payments will rise proportionally over time.