|
BOROUGH OF SOMERVILLE
2024 BUDGET FUNDING
|
Project Tax Results | |||||
|---|---|---|---|---|---|---|
| 2024 | 2025 | 2026 | 2027 | 2028 | ||
| Budget Funding: | ||||||
| Fund Balance | 5,800,000.00 | 25,000.00 | 50,000.00 | 75,000.00 | 100,000.00 | |
| Local Revenues | 6,867,562.00 | 150,000.00 | 300,000.00 | 450,000.00 | 600,000.00 | |
| State Aid | 1,567,509.40 | |||||
| Grants | 2,256,557.40 | |||||
| Delinquent Tax | 400,000.00 | |||||
| Local Purpose Tax | 13,125,655.50 | 18,875,117.75 | 19,132,029.77 | 19,400,357.58 | 19,680,471.80 | 19,972,757.79 |
| 30,017,284.30 | 18,875,117.75 | 19,307,029.77 | 19,750,357.58 | 20,205,471.80 | 20,672,757.79 | |
| Ratables | 1,163,510,700 | 1,171,510,700 | 1,179,510,700 | 1,187,510,700 | 1,195,510,700 | 1,203,510,700 |
| Tax Rate | 1.128 | 1.611 | 1.622 | 1.634 | 1.646 | 1.660 |
| Increase | 0.005 | 0.483 | 0.011 | 0.012 | 0.012 | 0.013 |
| LEVY CAP CAL | ||||||
Prior Year |
13,125,655.50 | 18,875,117.75 | 19,132,029.77 | 19,400,357.58 | 19,680,471.80 | |
2% |
262,513.11 | 377,502.36 | 382,640.60 | 388,007.15 | 393,609.44 | |
Debt Service & Health |
145,000.00 | 145,000.00 | 145,000.00 | 145,000.00 | 145,000.00 | |
Ratables Added |
14,000.00 | 15,000.00 | 16,000.00 | 17,000.00 | 18,000.00 | |
CAP Max |
13,547,168.61 | 19,412,620.11 | 19,675,670.36 | 19,950,364.73 | 20,237,081.24 | |
| Over / (Under) CAP | 5,327,949.14 | (280,590.34) | (275,312.78) | (269,892.93) | (264,323.45) | |
BOROUGH OF SOMERVILLE
2024 BUDGET FUNDING
Project Tax Results
20242025202620272028
Budget Funding:
Fund Balance
5,800,000.00
202525,000.00
202650,000.00
202775,000.00
2028100,000.00
Local Revenues
6,867,562.00
2025150,000.00
2026300,000.00
2027450,000.00
2028600,000.00
State Aid
1,567,509.40
Grants
2,256,557.40
Delinquent Tax
400,000.00
Local Purpose Tax
13,125,655.50
202418,875,117.75
202519,132,029.77
202619,400,357.58
202719,680,471.80
202819,972,757.79
30,017,284.30
202418,875,117.75
202519,307,029.77
202619,750,357.58
202720,205,471.80
202820,672,757.79
Ratables
1,163,510,700
20241,171,510,700
20251,179,510,700
20261,187,510,700
20271,195,510,700
20281,203,510,700
Tax Rate
1.128
20241.611
20251.622
20261.634
20271.646
20281.660
Increase
0.005
20240.483
20250.011
20260.012
20270.012
20280.013
LEVY CAP CAL
Prior Year
202413,125,655.50
202518,875,117.75
202619,132,029.77
202719,400,357.58
202819,680,471.80
2%
2024262,513.11
2025377,502.36
2026382,640.60
2027388,007.15
2028393,609.44
Debt Service & Health
2024145,000.00
2025145,000.00
2026145,000.00
2027145,000.00
2028145,000.00
Ratables Added
202414,000.00
202515,000.00
202616,000.00
202717,000.00
202818,000.00
CAP Max
202413,547,168.61
202519,412,620.11
202619,675,670.36
202719,950,364.73
202820,237,081.24
Over / (Under) CAP
20245,327,949.14
2025(280,590.34)
2026(275,312.78)
2027(269,892.93)
2028(264,323.45)