Needham voters will decide Nov. 3 whether to approve a temporary property tax increase to repay an estimated $243 million in borrowing for a new Pollard Middle School.

Question 10 asks voters to approve a Proposition 2½ debt exclusion for the project. The town estimates repayment would run from fiscal year 2028 through FY2062.

The total project budget is $325.4 million, with up to $80.6 million in Massachusetts School Building Authority reimbursement. After accounting for state construction funding and previously appropriated feasibility money, the town estimates it would borrow $242,959,927, according to its tax-impact calculator.

For the average single-family home, the additional annual tax is projected to peak at $2,065 in FY2034 before declining, Needham Local reported. Actual bills will depend on borrowing costs, property values and other factors. The estimates exclude ordinary future tax increases.

Special Town Meeting approved the project 207-21 on Oct. 19. The Finance Committee recommended it by a narrower 5-4 vote.

Committee Chair Barry Coffman called the proposal “a big ask, a huge ask.”

Residents have expressed both support for replacing Pollard and concern about the financial burden. The Needham Observer explored those competing considerations through interviews and an informal discussion with about two dozen seniors Oct. 27.

Several participants argued that strong schools benefit homeowners even after their children graduate.

Aaron Goldberg said education helps sustain Needham’s appeal and property values. Phil Murray supported the project while acknowledging that taxes would rise significantly.

Brookline Street resident Neil Alper, whose sons attended Mitchell Elementary decades ago, worried that postponing Pollard would further delay work at Mitchell.

Those views came from a small discussion group and do not establish how Needham seniors generally intend to vote.

Parents also described weighing school needs against household finances. Town Meeting member Brian Keaney supported the project despite concerns about its cost, saying the schools had motivated his family’s move to Needham.

Other residents questioned the price. At an Oct. 27 information session, Scott Schwartz compared Pollard with a three-school project in Kansas costing $180 million, the Observer reported.

School Committee Chair Alisa Skatrud responded that differences in site conditions, prevailing-wage requirements and construction timing affect those comparisons.

If Question 10 fails, the town could seek another vote on the same project to preserve eligibility for state reimbursement, according to Needham Local.

Superintendent Dan Gutekanst previously estimated that repairing the existing Pollard could cost $167 million without MSBA funding. That figure represents an earlier estimate, rather than a finalized alternative construction plan.

Homeowners can review property-specific estimates through the town’s online calculator before voting.