Note: This Tax Analysis was performed using data for the number of school children generated by multifamily housing as set forth in the 2006 Study by the Rutgers School of Planning and Public Policy. The Rutgers–Bloustein studies have become dated over time and do not reflect the demographic reality of a general decline over time in the average household size and the average number of pupils per housing unit. The Real Estate Institute at Stony Brook University performed a more recent study in 2019 entitled “Impact of Market Rate Apartments on School District Enrollment”. The Stony Brook research indicates that the multiplier for multifamily housing is approximately half the multiplier set forth in the Rutgers Study. Applying the Stony Brook multiplier to this analysis results in approximately 50% less school-aged children generated by the community and a net tax revenue surplus to the Elwood School District of approximately $1,712,800.