Recently, the Monitor reported that Hopkinton's real estate tax rate will jump by 21 percent. I fail to understand how anyone can project the rate change at this juncture because there are several unresolved items that bear upon the change. Reassessments have not been completed, not all errors in preliminary assessments have been corrected, and the selectmen have not yet decided whether to authorize a special town meeting for residents to vote on plans to spend $480,000 to purchase a conservation easement on 413 acres of the Bohanan farm.

If this purchase is completed, Hopkinton will not own the land, as opposed to other open land that the town has purchased through the open space warrant article that voters approved in 2003. That article pertained to land purchases, not to easement purchases. In this case, the town is being asked to provide money without gaining ownership.

The total cost of the purchase is $900,000. Hopkinton would pay some $480,000 through a 20-year bond, and a federal grant would contribute the balance. That $480,000 includes a first-year cost of about $54,000 for legal and survey fees and miscellaneous expenses. In the second year, bond payments will be just over $50,000, and total bond costs over 20 years will aggregate slightly more than $700,000. Obviously, all these costs will be reflected in the town's tax rate.

Should the proposal proceed to a special town meeting, there are other factors apart from costs that citizens need to consider.

To begin, at this moment, there are $1.1 million in property tax liens, up from $960,069 in March 2009. There have been more than 20 foreclosures over the past year, whether for unpaid tax or mortgage payments. Quite likely, there will be an increase in both over ensuing months.

The Department of Employment Security reports that the unemployment rate for Merrimack County was 6.1 percent on June 30; for Hopkinton it was 5.6 percent. National unemployment is projected to reach at least 10 percent within a year. We likely will follow suit. Tax and mortgage payment delinquencies would quite likely ensue.

Finally, the Social Security Administration has announced that there will be no COLA increases in payments for the next two years. However, Medicare and prescription drug premiums that are deducted from Social Security payments will increase, thus reducing recipients' payments. The many Hopkinton retirees who rely heavily on Social Security payments will see reduced income but not necessarily reduced living expenses, and certainly would see increased taxes if the easement purchase is approved.

Now is not the time to increase Hopkinton's expenses, and consequently the tax rate, whether on the town or school side. Fiscal prudence and responsibility dictate that the easement purchase must not be approved.

The selectmen will vote at their Monday meeting, which starts at 5:30 p.m., whether to move the proposal to a special town meeting. Attend and voice your objection to this proposal.

(Arnold C. Coda lives in Hopkinton.)