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Brian Herr on Tax Reform

 


Proposition 2-1/2 tax under-ride: reduce taxes by $1.2M

Selectmen voted Tuesday night to push ahead with a proposal that if adopted, would reduce how much money the town can raise by taxes in the years to come. The 4-0 vote puts a proposed Proposition 2-1/2 tax underride article on the Town Meeting warrant. Still undecided is the amount of such an underride.

Such an underride will permanently reduce the town's tax levy limit.

The maximum amount of taxes the town is allowed to raise under Proposition 2-1/2--the levy limit--is about $55.6 million for next fiscal year. The town is using only $53.9 million of that amount, meaning the town has an excess levy amount of $1.7 million.

The board suggests the underride be drawn from from the excess levy amount, not the town's operating budget. Selectman Brian Herr suggested Tuesday night the board endorse a $1.2 million underride, but members ultimately voted to wait until April 1 to determine the amount. Board members agreed some extra should be set aside for unforeseen expenses.

Source: Hopkinton Daily News: 2014 Massachusetts Senate race , Mar 19, 2014

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Page last updated: Apr 17, 2014