CMA 2015-309

The votes necessary to seek approval from the Massachusetts Department of Revenue of the tax rate for FY2016: A. Authorize the use of Free Cash of $11,450,000 to reduce the FY16 tax rate; B. Authorize $2,000,000 in overlay surplus/reserves to be used for reducing the FY16 tax rate; C. Authorize $1,300,000 from the City Debt Stabilization Fund to be used as a revenue source to the General Fund Budget D. Authorize $540,865 from the School Debt Stabilization Fund to be used as a revenue source to the General Fund Budget; E. Appropriate $8,000,000 from Free Cash to the City Debt Stabilization Fund; F. Classify property into five classes; G. Adopt the minimum residential factor of 55.5325%; H. Approve the maximum residential exemption factor of 30% for owner-occupied homes; exemptions; J. Vote the FY16 exemption of $307.00 allowed under MGL Chapter 59, Section 5, Clause 17D;