Impact of Override on Taxes
Let’s see the TOTAL additional tax you will pay after three years, 10 years, 20 years and 25 years if the override passes that includes the COMPOUNDING effect:
The other type of Proposition 2 ½ override tax increase goes away after the money borrowed for the project is paid off. There is no compounding effect - but you are paying higher taxes each year for your home’s share of the cost of the project.
These are the temporary override projects we are still paying on:
*Does not include interest expense on the bond
There’s even another multi-year forever type override planned in the Town’s five-year budget that would be on top of this one beginning in FY28! Now is the time to stop this train of unsustainable tax increases.
Please come to Town Meeting on March 26 and vote no against the budget Article that requires override money and then vote at the polls on April 2 against the override question.
If you want to help defeat the override, please call me at 978-337-8535.
Paul Fitzgerald
The Groton Herald needs the ‘oxygen’ of subscription revenue to fund our newsgathering work and other costs. If you enjoy the Groton Herald and believe that maintaining independent journalism in our town is worthwhile, please subscribe. Thank you for supporting the Groton Herald.