Annual Incarceration Costs vs. Jail Sales Tax Revenue
Key data:
Here are the numbers to help you make your decision on the county’s proposal to borrow $110 million to build a new jail:
Amount borrowed: $ 110,000,000
Annual Interest Cost: $ 4,950,000 (Based on 4.5% coupon)
Total interest cost over 30 year bond term: $ 148,500,000
Total Whatcom County Incarceration Expense:
1998 (actual): $ 4,996,850
2017 (budget): $ 14,501,238
Avg. Annual Whatcom County Incarceration Expense Increase, 2006 to 2016: 5.6%
Avg. Annual Whatcom County Sales Tax Revenue increase, 2006 – 2016: 2.02%
Projected Annual Incarceration Expense:
(including bond interest and jail expense inflation of 5.6%)
2028: $ 30,568,242
2038: $ 49,124,000
2048: $ 81,120,169 […]
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