CMA 2008-254

The votes necessary to seek the Massachusetts Department of Revenue approval for the tax rate for FY2009: A. Appropriate $8,000,000 from Free Cash to the City's Debt Stabilization Fund; B. Authorize the further use of Free Cash of $9,000,000 to reduce the FY2009 tax rate as follows: Operating Budget $2,000,000; Public Investment $1,000,000; Tax Support Reduction $6,000,000. C. Authorize $2,000,000 in overly surplus/reserve be used for reducing the FY2009 tax rate; D. Authorize $7,000,000 from the Debt Stabilization Fund to be used as a revenue source to the General Fund Budget; E. Authorize $2,919,340 from the School Debt Stabilization Fund to be used as a revenue source to the General Fund Budget; F. Classify property into five classes; F. Adopt a minimum residential factor of 57.00% H. Approve the maximum residential exemption factor of 30% for owner-occupied homes; exemptions;

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