A reservation of funds to cover an
obligation arising from a purchase order, contract, or
salary commitment chargeable to, but not yet paid
from, a specific appropriation account.
A reduction in a tax owed - issued by the committing body
An authorization granted by a town
meeting, city council or other legislative body to
expend money and incur obligations for specific
public purposes.
Remaining, unrestricted funds from
operations of the previous fiscal year, including
unexpended free cash from the previous year, actual
receipts in excess of revenue estimated on the tax
recapitulation sheet, and unspent amounts in budget
line items.
The document a city or town submits to DLS to set a
property tax rate.
A separate accounting
and financial reporting mechanism for municipal
services for which a fee is charged in exchange for
goods or services.
An action taken by a community
through a referendum vote to raise the funds
necessary to pay debt service costs for a particular
project from the property tax levy but outside of the
limits under Proposition 2½.
The amount a community raises through the
property tax.
A fund designed to accumulate
amounts for capital and other future spending
purposes, although it may be appropriated for any
lawful purpose (MGL c. 40 § 5B).
The additional tax revenue generated
by new construction, renovations and other
increases in the property tax base during a calendar
year. It does not include value increases caused by
normal market forces or revaluations.
– An account that
funds anticipated property tax abatements,
exemptions, and uncollected taxes.
a fund for money donated
or transferred to a municipality with specific
instructions on its use.
– A vote by a community at an election to
permanently increase the levy limit.
Movable items not
permanently affixed to, or part of, the real estate. It
is assessed separately from real estate to certain
businesses, public utilities, and owners of homes
that are not their primary residences.