Budget funding and project tax results are shown below; on small screens, each amount is labeled by its fund or projected year.
BOROUGH OF SOMERVILLE2023 BUDGET FUNDING |
Project Tax Results | ||||
|---|---|---|---|---|---|
| 2023 | 2024 | 2025 | 2026 | ||
| Budget Funding: | |||||
| Fund Balance | 2,750,000.00 | 25,000.00 | 50,000.00 | 75,000.00 | |
| Local Revenues | 5,074,898.00 | 150,000.00 | 300,000.00 | 450,000.00 | |
| State Aid | 1,487,250.22 | ||||
| Grants | 1,305,134.93 | ||||
| Delinquent Tax | 400,000.00 | ||||
| Local Purpose Tax | 13,055,960.78 | 17,811,373.63 | 18,042,126.45 | 18,283,515.02 | 18,535,880.77 |
| 24,073,243.93 | 17,811,373.63 | 18,217,126.45 | 18,633,515.02 | 19,060,880.77 | |
| Ratables | 1,162,673,000 | 1,170,673,000 | 1,178,673,000 | 1,186,673,000 | 1,194,673,000 |
| Tax Rate | 1.123 | 1.521 | 1.531 | 1.541 | 1.552 |
| Increase | 0.007 | 0.399 | 0.009 | 0.010 | 0.011 |
| 13,055,960.78 | 17,811,373.63 | 18,042,126.45 | 18,283,515.02 | ||
| 261,119.22 | 356,227.47 | 360,842.53 | 365,670.30 | ||
| 145,000.00 | 145,000.00 | 145,000.00 | 145,000.00 | ||
| 14,000.00 | 15,000.00 | 16,000.00 | 17,000.00 | ||
| 13,476,080.00 | 18,327,601.10 | 18,563,968.98 | 18,811,185.32 | ||
|
Over / (Under) CAP
|
4,335,293.63 | (285,474.66) | (280,453.95) | (275,304.55) | |