CMA 2013-264

The votes necessary to seek approval from the Mass Dept. of Revenue of the tax rate for FY2014: A. Authorize the use of Free Cash of $9,000,000 to reduce the FY14 tax rate; B. Authorize $2,000,000 in overlay surplus/reserves to be used for reducing the FY14 tax rate; C. Authorize $586,670 from the School Debt Stabilization Fund to be used as a revenue source to the General Fund Budget; D. Authorize $1,000,000 from the City Debt Stabilization Fund to be used as a revenue source to the General Fund Budget; E. Appropriate $12,000,000 from Free Cash to the City Debt Stabilization Fund; F. Classify property into five classes; G. Adopt the minimum residential factor of 56.4071%; H. Approve the maximum residential exemption factor of 30% for owner-occupied homes; exemptions; J. Vote the FY14 exemption of $298.00 allowed under MGL Chapter 59, Section 5, Clause 17D;

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