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Finance committee reviews Prop 2½, excess levy capacity and budget planning
Summary
A committee presentation explained how Prop 2½, new growth and debt exclusions create excess levy capacity, outlined FY25–FY27 levy bases and cautioned that rising insurance and school-assessment costs complicate long-term budgeting.
Speaker 3 gave a step-by-step presentation on Massachusetts’ property tax levy mechanics under "prop 2 and a half," using Charlton’s recent levy history as a working example. He said the town started FY25 with a $32,000,000 levy base; a 2½ percent increase on that base equals roughly $800,000, and the town captured about $2,500,000 in new growth that year. Debt exclusions and other adjustments produced the town’s reported levy capacity figures.
Speaker 3 emphasized that excess levy capacity is an authority to tax — not…
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