FY2025 Override Information

Overview

This page has resources and answers to frequently asked questions about the proposed override.

On February 26, 2024, the Select Board voted to place an override question on the Annual Town Election ballot. The total override amount that will appear on the April 30th ballot is $6.6 Million. If approved by the residents, the FY2025 operating budgets will utilize $5.4 Million of the override. This will leave $1.2 Million in untaxed (excess levy capacity) for potential future use.

View a table showing the FY2025 Override Estimated Tax Increases

View a document showing the Distribution of Property Values in Fiscal Year 2024

  1. What is Proposition 2 ½ and What are Overrides?
  2. When is the Annual Town Election?
  3. How much will the override increase my taxes?
  4. Are there property tax relief programs available?
  5. Where can I find the FY2025 Town Budget?
  6. Where can I find the FY2025 ABRSD School Budget?
  7. Where can I view presentations on the budget?
  8. When is Annual Town Meeting?

Proposition 2 ½ was passed into Massachusetts law by ballot vote and it that strictly limits the amount of property tax revenue a community can raise through real and personal property taxes. Prop 2 ½ limits how much the tax levy can be increased from year-to-year through two means:

  • Establishes the levy, or the amount of money a municipality can raise in taxes, and restricts how much it can increase each year.
  • Establishes the levy limit, or the maximum amount of money a municipality can raise in taxes in any given year. The levy limit is calculated by increasing the prior year’s levy limit by 2.5% then adding in new growth. New growth is the dollar value of property not previously assessed or charged taxes, such as new construction.

A municipality can only exceed its levy limit with approval from voters. Communities can tax above its levy limit permanently or temporarily by passing by majority vote in an election an override or a debt exclusion override. 

  • A debt exclusion override temporarily increases the levy by the annual cost of the borrowing for a capital project, such as new town or school building, or a large purchase, such as a fire truck or ambulance. After the debt service is paid off, the levy limit is calculated as normal.
  • An operating override permanently increases the levy limit by a set dollar amount, meaning that the base levy is increased by that amount and that new limit becomes the basis for all future levy limit calculations. 

In order to go into effect, the override must pass a ballot vote at a town election. 

If you are interested in additional information regarding proposition 2 1/2, the Commonwealth's Department of Revenue published a pamphlet titled Levy Limits: A Primer on Proposition 2 1/2 which can be found HERE.