Substantial new growth drove Boston’s property tax levy increase of $133.4M or 6%, far greater than the Proposition 2½ levy limit of 2.5%. New growth, primarily from residential new development, contributed $78.7M, the largest new growth amount ever.
The City of Boston ended FY18 with a $21.2M General Fund operating surplus – actual receipts exceeded budgeted revenues by $55.7M
Impact the future of Boston. Highly qualified applicants for the Boston School Committee needed by January 7th.
Boston remains on track to fully fund its $1.51B unfunded pension liability by 2025. This has occurred despite assumption and plan changes that together actually increased the overall pension liability by $236.7M.