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Deputy assessor warns against optimistic new-growth forecast; urges caution for FY2026 revenues
Summary
Deputy Assessor Justice Graves told the Select Board the town should not assume $100,000 in new-growth receipts for FY2026 and recommended a conservative $60,000 figure to avoid creating budget shortfalls later in the year.
Justice Graves, Templeton’s deputy assessor, told the Select Board during citizen input and the revenue-review agenda item that town staff have found markedly fewer certificates of occupancy tied to new construction this fiscal year than in prior years.
Graves reported only three single-family homes had received certificates of occupancy so far in fiscal 2025, down from eight at the same point the prior year and 15 by the fiscal year 2024 year end. He said new-growth — the tax base increase produced by new construction — is historically the source of the town’s supplemental revenue for the next fiscal year, but given the small number of completed units he did not think a $100,000 new-growth estimate discussed in budget hearings was realistic.
“We’ve already almost completed all of my new entries… I don’t see how it would go up to $100,000,” Graves said. He said the assessors and his office recommended $60,000 while the former town administrator had recommended $70,000; the Select Board had discussed a $100,000 planning figure during budget hearings.
Graves advised that using an overoptimistic new-growth number can leave the town exposed and require adjustments at a fall town meeting. He also noted new legislation allowing accessory dwelling units could increase permit activity, but any ADUs not completed by June 30 would add to FY2027 new growth rather than FY2026.
Board members asked questions about the levy limit worksheet and the mechanics of the tax-rate recap. Graves explained the FY2026 levy-limit preliminary numbers and cautioned the board that revenues must match appropriations to allow the town to set a lawful tax rate.
The Select Board took no formal vote on the revenue figures during the meeting; members discussed next steps including reviewing an updated budget package ahead of the next meeting.
