Medfield to Propose Operational Override at Monday's Town Meeting

The budget operating override for the FY12 is estimated at $500,000, according to Town Administrator Mike Sullivan and will be one of two overrides presented at Monday's Town Meeting at 7:30 p.m. in the Medfield High School gymnasium. 

"This would result in $0.22 increase in the FY12 tax rate which would amount to an increase of $124.17 on the average home ($564,400)," said Sullivan. "Anyone who wants to figure it out on their own home can just divide their property valuation by 1,000. and multiply that amount by $0.22. For example, for a house assessed for $500,000 the tax impact would be $500,000/1,000 or 500 x $0.22 = $110."

According to Sullivan, the last operating override was approved by the voters in 2008 for use in FY2009. The amount of that operating override was $850,000. There were no operating overrides voted in 2009 or 2010. Unlike a debt exclusion override, which disappears when the bonds are paid off, an operating override becomes part of the tax levy base.