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Preserve Our Town Services
Last Updated: March 2008
This section
provides a quick overview of the current situation.
For a more
detailed explanation please visit "Get the Facts"
We all see costs going up more than 2 ½ %, from health care to
utilities. Even though Wayland is rated as one of the top 12
fiscally responsible towns in MA, our town is faced with similar
cost increases outside of its control.
The only way to maintain existing services and balance the
budget is to pass an override.
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Didn't We Just
Have an Operating Override?
Actually, the last
operating override for $2.1 million was two years ago, in April
2006. At that time, the Finance Committee implemented a
long range financial plan
to avoid annual overrides. That plan has been successful by:
- reducing
operating costs
- bringing
in one-time savings and revenue
- preserving
our Moody's AAA bond rating that is critical to obtain
low-cost financing for capital projects.
Many of the
outcomes of the plan will not be fully realized for several
years.
◊
Why Are We Facing This Again?
It would be nice if we could simply cut the fat from our budgets
to avoid an override and still maintain services. But
the fat was already cut a long time ago. Our town is
run efficiently. We've met with staff or board members for
most departments in the last weeks - and in past years -
including: Council on Aging, Fire, Police, Library, Schools and
most other departments. There is no fat to cut.
None of us looks forward to the prospect of increased property
taxes.
But the reality is that
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the 2 1/2 % annual increase allowed by law only covers the
increase in health care and pension costs.
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State aid to Wayland decreased by $1 million between 2003
and 2004
and despite modest increases last year, has not rebounded to
levels seen in 2003.
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Isn't This a Scare Tactic? Would These Cuts Really Happen?
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We've sat in on board meetings as these cuts were
discussed. These are real. The boards know
that if the override fails, they will need to live with
these cuts. They have deliberated exhaustively to
determine the cuts that will have the least impact on
the core programs.
The elected Committee and Board members that review the
budgets and vote on these issues are all residents of
Wayland. They pay property taxes. They have now,
or did have, kids in the schools. Some elected officials
are senior citizens and some have parents who live in
town and are on fixed incomes. They all care
deeply for our town and all our residents.
If you have doubts, contact board members or staff and
discuss it directly.
You can find contact information on the town website.
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What Impact Will The Override Have on My Taxes?
For the median assessed home in Wayland ($544,400),
property taxes will increase as follows :
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$323 if the operating override is approved at the
ballot.
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$204 for Prop 2 ½
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$40 if the debt exclusion question is approved. The
accompanying debt will be retired within 10 years
(over the next 10 years, the $40 will decrease to
zero).
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TOTAL = $567
Simply
put: For 88¢ a day*, the price of a cup of coffee, you
can save our vital services.
*the
tax increase due to the override for the median assessed
home ($544,400) in Wayland will be 88¢/day or $323/year.
When you factor in property tax deductions on federal
tax returns, the impact of an override is even less than
this amount.
What
will it cost me?
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Assessed
Home Value |
Impact of Prop 2½ Override (Per
Day)* |
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$200,000 |
33 cents |
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$400,000 |
65 cents |
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$600,000 |
98 cents |
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$800,000 |
$1.30 |
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$1,000,000 |
$1.63 |
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