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A communication transmitted from Louis A. DePasquale, City Manager, relative to the votes necessary to seek approval from the Massachusetts Department of Revenue of the tax rate for FY2020

CMA 2019 #263·Council meeting Oct 7, 2019·12 pages·📄 Original PDF (city portal)
Citp of CambribQ;e Agenda Item Number 1A IN CITY COUNCIL October 7, 2019 ORDERED: That the City Manager be and hereby is authorized to use $ 14,000,000 in Free Cash to reduce the Fiscal Year 2020 tax rate.
Citp of Cambnbge Agenda Item Number 1B IN CITY COUNCIL October 7,2019 ORDERED: That the City Manager be and hereby is authorized to use $2,500,000 in Overlay Surplus Reserve to be used as a revenue to reduce the Fiscal Year 2020 tax rate.
Citp of Cambnbge Agenda Item Number 1C IN CITY COUNCIL October 7,2019 ORDERED: That the City Manager be and hereby is authorized to use $6,000,000 from the City Debt Stabilization Fund to be used as a revenue source to the Fiscal Year 2020 Adopted Budget.
Agenda Item No. ID IN CITY COUNCIL CITY OF CAMBRIDGE October 7,2019 INTRODUCED BY CITY MANAGER LOUIS DEPASQUALE AN ORDER CONCERNING APPROPRIATIONS FOR THE FISCAL YEAR BEGINNING JULY 1,2019 ORDERED: That the following sum is hereby appropriated in the Stabilization Fund in the City of Cambridge: OTHER DEPARTMENT OR SALARY ORDINARY TRAVEL & EXTRAORDINARY FUNCTION PROGRAM & WAGES MAINTENANCE TRAINING EXPENDITURES APPROPRIATIONS Community City Debt Stabilization $6,000,000.00 Maintenance & Fund Development BE IT FURTHER ORDERED: That the above appropriation is financed from the following sources: FINANCING PLAN REVENUE Free Cash $6,000,000.00
Citp of Camtiribge Agenda Item Number IE IN CUT COUNCIL October 7, 2019 ORDERED: That the City Council classifies property within the City of Cambridge into five property classes allowed for the purpose of allocating the property tax levy.
Citp of Camtmbge Agenda Item Number IF IN CITY COUNCIL October 7, 2019 ORDERED: That the City Council hereby adopts a minimum residential factor of 58.7316% for the purpose of distributing the property tax levy.
Cttp of Cambribge Agenda Item Number 1G IN CITY COUNCIL October 7,2019 ORDERED: That the City Council approves a thirty (30) percent residential exemption for owner- occupied homes.
Citp of Camtinbge Agenda Item Number 1H IN CITY COUNCIL October 7, 2019 ORDERED: That the City Council vote to double the normal value of the statutory exemptions for Fiscal Year 2020.
Citp of Cambribge Agenda Item Number II IN CITY COUNCIL October 7,2019 ORDERED: That the City Council vote the Fiscal Year 2020 exemption allowed under General Laws Chapter 59, Section 5, Clause 17D of $333.00.
€itp of CamtiribQ;e Agenda Item Number 1J IN CITY COUNCIL October 7,2019 ORDERED: That the City Council vote the Fiscal Year 2020 asset limits allowed under General Laws Chapter 59, Section 5, Clause 17E of $65,864.
Citp of Cambribge Agenda Item Number 1K IN CITY COUNCIL October 7,2019 ORDERED: That the City Council vote the income and assets limits for elderly persons to income limits of $27,234 for those who are single and $40,852 for those who are married, asset limits of $54,465 for those who are single and $74,890 for those who are married, as allowed under General Laws, Chapter 59, Section 5, Clause 41D.
Citp of Cambnbge Agenda Item Number 1L IN CITY COUNCIL October 7,2019 ORDERED: That the City Council vote the income limit for deferral of real estate taxes by elderly persons to the amount determined by the Commissioner of Revenue for the purposes ofMGL Chapter 62, Section 6, subsection (k) for a single person ($58,000) and for those who are married ($88,000), as allowed under MGL Chapter 59, Section 5, Clause 41 A.