DocuSign Envelope ID: 770223B8-42F8-4748-AA3D-7A1792141FE5
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BOROUGH OF SOMERVILLE 2024 BUDGET FUNDING |
Project Tax Results | |||||||
| Budget Funding: | 2024 | 2025 | 2026 | 2027 | 2028 | |||
|---|---|---|---|---|---|---|---|---|
| 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 | 13,125,605.50 | 18,875,117.75 | 19,132,029.77 | 19,400,357.58 | 19,680,471.80 | 19,972,757.79 | ||
| 30,017,234.30 | 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 | 13,125,605.50 | 18,875,117.75 | 19,132,029.77 | 19,400,357.58 | 19,680,471.80 | |||
| 2% | 262,512.11 | 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 | 13,547,117.61 | 19,412,620.11 | 19,675,670.36 | 19,950,364.73 | 20,237,081.24 | |||
| Over / (Under) CAP | 5,328,000.14 | (280,590.34) | (275,312.78) | (269,892.93) | (264,323.45) | |||