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Frequently Asked Questions
What will be on the ballot in November?
On November 7th, a referendum question will appear on the ballot. It will ask voters whether or not they support the authorization of a $20 million bond for the preservation of open space in Radnor. Specifically, it will read:
Shall debt of up to $20 million to finance the acquisition and preservation of real property, interests therein and contracts related to real property, all for purposes of open space preservation, recreation, and environmental and historic preservation, be authorized to be incurred as debt approved by the electors?
What/Who is CPR:
Citizens to Preserve Radnor is a non-partisan political action committee that has been formed to advocate for a $20 million dollar open space bond referendum on the November ’06 ballot. Although this committee has many of the same leaders as the Radnor Conservancy and the League of Women Voters, it is a separate organization set up to educate and advocate about an electoral issue. The steering committee includes:
Chuck Barber Leslie Bowes Alan Brink Mary Coe Kimberley Donches John Fischer
Ginny Kreitler Gayla McCluskey John Nagle Steve Paolantonio Elaine Paul Schaefer
Cheryl Tumola Phil Wallis
Why do we need more open space funding?
Our last open space bond was approved TEN years ago for $10 million dollars. That bond money is nearly gone and land prices have increased dramatically. Currently, the Open Space Fund contains about $3 million dollars. Should a valuable property worthy of protection become available in the near future, we are not in a position to preserve it. We desperately need to replenish the Open Space Fund to protect what open space is left for future generations.
What land is left to protect in Radnor?
There are approximately 1200 acres of open space left in Radnor, which includes both residential and institutional open space. There are over 100 residential parcels that are at risk of further subdivision and development. Of those, the five largest properties comprise over 400 acres of open land that will be developed unless we act to protect them.
Why now? What is the rush?
Over the last several decades, approximately 1200 acres have been developed each decade. At this rate, Radnor will be completely built out in the next 10 years. The cost of land is going up, and land in Radnor is in unprecedented demand for residential development. If we don’t act now, our last open spaces will be gone forever. In addition, we need municipal open space money to have access the $625 million Growing Greener II state funding (which we are all paying for in state taxes!). That money is available now, but will not last.
What will a $20 million open space bond issue cost me?
The amount your taxes would increase if a $20 million open space bond is authorized (and then issued and spent) depends on the assessed value of your home. As a general rule, the increase in real estate taxes to service a $20 million bond – at current rates – would be an increase of 1.61% of your total real estate tax bill.
The average assessed value of a home in Radnor is approximately $280,000. For that home, the increase in taxes would be $112.37 a year, or less than $10 a month. Below is a chart containing different assessed values and how much each household would pay annually to service a $20 million open space bond.
Annual Property Tax Cost of $20 Million Bond
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Assessed Value of Home
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Annual Cost to Homeowner to service $20 Million Bond
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$100,000
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$40.13
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200,000
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80.26
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280,000
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112.37
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300,000
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120.39
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400,000
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160.52
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500,000
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200.65
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750,000
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300.98
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1,000,000
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401.31
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* These numbers are based on 30 year debt issued at a rate of 4.5%
** The current real estate property tax burden for Radnor residents is as follows:
- School Taxes: 17.367 mills
- Township Taxes: 3.01 mills
- Delaware County Taxes: 4.45 mills
- Total Real Estate Taxes: 24.847 mills
- An open space bond of $20 million would add an additional .40 mills to this burden.
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