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Hopkinton home values rise

abagley — Tue, 07 Feb 2012 08:32:34 -0600

“It's consistent with our general sense of the slowly, very slowly, improving Massachusetts economy, and housing with it,” said Michael Widmer, president of the nonpartisan, business-backed Massachusetts Taxpayers Foundation.

Editorial: Pay-as-you-go plan must come to an end

abagley — Tue, 31 Jan 2012 08:23:08 -0600

Springfield has $761.6 million in the unfunded liabilities, which translates to more than $12,000 in unfunded liabilities per single-family home; Holyoke would be on the hook for $300 million, which translates to a liability of more than $18,000 per single-family home. And eight other cities in the commonwealth are in similar straits.

Massachusetts Taxpayers Foundation says unfunded retiree health care liability is growing for towns and cities

abagley — Mon, 23 Jan 2012 08:07:51 -0600

The foundation, a Boston-based independent, nonprofit organization that conducts research on state and local taxes, government spending, and the economy, says the liabilities are not some hypothetical obligation but represent actual amounts taxpayers owe in today’s dollars for retiree health-care benefits already earned by current retirees and eligible employees and payable during the next 30 ye

More Budget Cuts Loom Despite Rising Tax Revenue

abagley — Tue, 17 Jan 2012 09:08:04 -0600

Michael Widmer, the president of the Massachusetts Taxpayers Foundation predicts state budget writers will find a way to boost local aid.

Editorial: A cure for local budgets

abagley — Tue, 17 Jan 2012 09:00:03 -0600

Speaking of “fixed” costs (see above) the Massachusetts Taxpayers Foundation is out with a truly frightening report on the threat posed to municipal budgets by the cost of providing health care to retirees.

Report says Brockton owes more for healthcare than other big MA cities

abagley — Tue, 17 Jan 2012 08:52:05 -0600

The study, from the Massachusetts Taxpayers Foundation, shows that Brockton owes more per household than any of the ten cities analyzed. Brockton owes just under $700 million in health care benefits for current and future retirees over the next 30 years.

Brockton ranked last in unfunded health care cost study

abagley — Tue, 17 Jan 2012 08:48:50 -0600

A report released by the Massachusetts Taxpayers Foundation showed that Brockton owes more, per household, in unfunded future health care costs than any of the 10 cities it analyzed. In today’s dollars, Brockton owes $693 million in health care benefits for current and future retirees over the next 30 years.

Retiree Health Costs Threaten Cities in Massachusetts

abagley — Tue, 17 Jan 2012 08:47:22 -0600

“Neither of those options are feasible,” says MTF president Michael Widmer. He recommends scaling back retiree benefits and/or changing what cities and towns have promised current employees. Specifically, Widmer suggests increasing the age by which municipal workers can retire early from 55 to 60 and extending the number of years they must work (now 10) to receive full health coverage.

City has $186M liability looming

abagley — Fri, 13 Jan 2012 09:09:40 -0600

Fitchburg is facing a $186.6 million liability for retiree health-care benefits, jeopardizing funds for local services, according to a new study by the Massachusetts Taxpayers Foundation.

Study claims Lowell facing $432.7M deficit for retirees' health-care costs

abagley — Fri, 13 Jan 2012 08:54:31 -0600

Lowell is facing a $432.7 million liability for retiree health-care benefits, jeopardizing funds for local services, according to a new study by the Massachusetts Taxpayers Foundation.