Finances & Taxes

The City maintains its strongest, most stable financial standing in recent history following a series of reforms enacted by Mayor Koch amid the Great Recession. By creating savings, budgeting conservatively, and fixing long-standing deficiencies, the City now holds the second-highest bond rating from Wall Street possible for any community. 

  • Average budgetary increase of 4 percent – statewide average between 5 and 6 percent

  • Average single-family home tax bill increase less than half the state average the last two years

    • 8 percent lower than state average over 10 years 

  • Debt burden between 5 and 6 percent of total budget. State Average is 8 percent 

  • No Proposition 2.5 overrides – meaning the City has capacity for major projects unlike other cities and towns 

  • Excess Levy Capacity, which are property taxes the City is allowed to collect under state law but doesn’t, is the fourth-highest of any community in Massachusetts at nearly $31 million

    • By comparison, the City of Boston holds less than $1 million in excess levy capacity 

© 2019 by The Committee to Re-Elect Mayor Tom Koch. 617-773-KOCH (5624)