Email from Mike –
The tax rate for fy15 was approved today by the Dept. of Revenue. It is $16.04, which is a decrease of $0.08 from the $16.12 fy 14 rate. However, the property values on average increased by 5%, so the levy increase is about 4% and if you take out new growth about 3%. The Propositions 2 1/2 levy limit looks greater than it is because we included $155,000 in the levy, which is 1/2 of the first annual installment for the hospital purchase. Since it is an override debt exclusion it increases the allowable levy limit, but the funds to cover the %155,000 we raised by increasing the local receipts, so it raises the levy limit by that amount for just fy 15. Confusing ain’t it. Have a good weekend. Mike
Sent: Thursday, November 20, 2014 9:01 AM
Subject: Tax Rate Approval Notification
Massachusetts Department of Revenue Division of Local Services
Amy Pitter, Commissioner
Robert G. Nunes, Deputy Commissioner & Director of Municipal Affairs
Medfield Assessors Date: Thursday, November 20, 2014
The Fiscal Year 2015 tax rate has been certified by the Bureau of Accounts for Medfield.
The four pages of the tax rate recapitulation form and the levy limit worksheet (not
applicable to districts) are available on the Division of Local Services website:
Page one of the tax rate recapitulation form includes the Director of Accounts’ electronic
signature and the date of approval. This letter is your notification of approval pursuant to
Massachusetts General Laws Chapter 59, section 23. Please forward copies of this notification
to other officials as you deem appropriate.
We wish to thank you for your cooperation and assistance in the tax rate setting process.
Gerard D. Perry
Director of Accounts