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Committee's Statement on Proposition 2 1/2 and the "Fiscal Cliff"
A primary objective of the Finance Committee is to assist the Town of Longmeadow in delaying an intersection with the looming "fiscal cliff."While many citizens are aware that Proposition 2½ limits property tax increases to no greater than 2.5% annually, they may not be familiar withProposition 2½’s other limitation that institutes a tax rate ceiling of $25.00 per $1,000.00 of assessed property value. This means that a town's tax rate may not exceed a mill rate of $25.00/$1,000.00 of assessed property value (not including tax related to excludable debt). Longmeadow has the highest residential tax rate in the state and is the town that is closest to breaching the tax ceiling. If our tax rate ever reached $25/$1,000, then we would no longer be able to increase taxes further, and the Town would be forced to reduce services and employees. This scenario is sometimes referred to as the "fiscal cliff." It is the goal of the Finance Committee to advocate for limitation of tax rate growth to keep the town below the tax ceiling and maintain level Town services for as long as possible.
Members are appointed by a committee comprised of the Town Moderator, the then-current Chairperson of the Finance Committee and the Town’s Finance Director. This is a committee of 7 members with 3-year staggered terms. The Chairperson is elected by committee. Current membership includes:
- Donald E. Griffith
- Andrew Lam
- Tom Dignazio
- William Welch
- Maury Garrett Jr.
- Armand Wray
- Nora MacKay
About the Committee
The Finance Committee, formerly known as the Appropriations Committee, is established pursuant to Article 2, section 2-10 of the Town of Longmeadow’s Charter. The Finance Committee is an advisory committee to the Town meeting and shall have those powers and duties given to finance committees under the general laws, except as may otherwise be provided for in the Town’s charter. The Finance Committee shall have jurisdiction over the reserve fund, shall conduct long range fiscal planning and advise on fiscal policy, make recommendations on the Town’s budget and shall further perform duties assigned by bylaw or voted by Town meeting.
The Town of Longmeadow is seeking interested residents to fill three (3) vacancies on the Town’s Finance Committee. Each vacancy is for a three (3) year term and would commence on July 1, 2022 and go through June 30, 2025. Applications due: May 31, 2022. Read on...