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Finance director outlines FY26 revenues: $469.6M total and $3.16M proposed levy increase
Summary
City finance staff presented revenue assumptions and explained how Massachusetts’ levy limits and new growth affect the city’s taxable capacity; the presentation included estimates of tax-rate effects for a typical single-family home.
The city’s finance presenter walked Lawrence City Council members through the revenue side of the proposed fiscal 2026 budget, showing total revenues of $469,611,008.65 and explaining how the state’s levy limit, Proposition 2½, and new growth feed into the city’s tax levy calculations.
Why it matters: The revenue assumptions determine how much the city must raise from property taxes and how an increase in the levy translates to changes in the tax rate and individual tax bills.
The finance presenter explained the main revenue categories for FY26: taxes and excise (real and personal property), state aid (including education funding and chapter 78 allocations), local receipts (motor vehicle excise, charges for services, licenses and permits), and other financing sources (a $5.0 million transfer from the stabilization fund and indirect enterprise fund costs). The…
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