• October 2004

Municipal Financial Data: 34th Edition

Cities and towns are facing a combination of higher property taxes and employee layoffs as a result of cuts in state aid, according to the Foundation's 34th annual analysis of local revenues and spending. Although the 2005 state budget provides modest relief from the recent deep cuts in aid, total assistance to municipalities remains below pre-crisis levels in most Massachusetts communities. Given the structural deficit in the state budget that is expected to grow to almost $1 billion in 2006, the report concludes that communities should count on limited additional state dollars over the next several years. In addition to an analysis of overall trends in local finances, the report includes financial data and property tax rates for every city and town in the Commonwealth.