BUDGET: Town Proposes Solution For School Shortfall and Fire Station Construction [with video]
Selectmen have called for a Special Town Election to be held Tuesday, April 1. The ballot will contain one question, asking voters to "exclude" bond payments for the new fire station from the limits of Proposition 2 ½ on the Town's tax levy.
This technique, called debt exclusion, is commonly used for Municipal Construction projects in Massachusetts communities, allowing communities to temporarily incur debt for large municipal projects while leaving sufficient taxing capacity to fund ongoing town services.
Under the terms of the fire station debt exclusion, the existing bond for the station would not change, but would be considered as being funded outside the prop 2 1/2 taxing limit, thus freeing up taxing capacity without needing a general override. The amount of excluded debt is $448,000 per year for 21 years. This debt exclusion is limited to the term of the debt.
This action would now allow the town to use the $448,000 of excluded debt in combination with $402,000 in unexpended tax capacity, $377,000 raised by the annual 2 1/2 percent increase over last year's budget and the $300,000 reduction in the FY15 municipal budget for a total of $1,500,000 that could be used as Groton's portion of the Groton Dunstable Regional School Committee $2,700,000 shortfall.
The average Groton tax bill was slated to rise by $208 in the coming fiscal year. All the other changes to help fund the schools would add approximately $216 more to the average tax bill for a total increase of $424. This does not include any potential override for the schools, which would require a separate approval at town Meeting followed by a town-wide secret ballot vote.
Further information about this Debt Exclusion Proposition 2 ½ Override and overrides in general can be found at www.townofgroton.org and www.mass.gov.
Voter Registration deadline for new voters for this special election is Wednesday, March 12 at 8 PM. Voters may register by mail, using a Mail-in Voter Registration form, or in person at the Office of the Town Clerk. For more information, or to check your voter status, contact the Town Clerk at 978-448-1100 or townclerk@townofgroton.org.
Groton's Annual Town Election, at which town officers will be elected, will be held May 20, as previously scheduled. Groton's Spring Annual Town Meeting will be held April 28.
