CMA 2006-286

The votes necessary to seek the Massachusetts Department of Revenue approval for the tax rate for FY2007: A. Appropriate $8,000,000 from Free Cash to the City Debt Stablization Fund; B. Authorize the further use of Free Cash of $17,000,000 to set the FY2007 tax rate as follows: Operating Budget $2,000,000; Public Investment $1,000,000; Tax Support Reduction $6,000,000; and Debt Stabilization Fund $8,000,000; C. Authorize $2,000,000 in overlay surplus/reserve to be used for reducing the FY2007 tax levy; D. Authorize $2,000,000 from the Debt Stabilization Fund to be used as a revenue source to the General Fund Budget; E. Classify property into five classes; F. Adopt a minimum residential factor of 57.3857%; G. Approve the maximum residential exemption factor of 30% for owner-occupied homes; H. Double the normal value of the statutory exemption; Chapter 59, Section 5, Clause 17D from $243.00 to $251.00;

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