How Much Will The Override Add To Your Tax Bill? Belmont Has A Calculator For That

Photo: The town has created a calculator to determine your taxes with a successful override. (Credit: Wikipedia)

One of the burning questions that many homeowners have with the proposed $6.4 million Proposition 2 1/2 override is “how much will it cost me?” The first estimate from town officials gave a general idea of the price tag: about an extra $900 per year on the “average” property valued at $1,125,000.

But that round figure was not cutting it for many owners who asked the town in previous public meetings to come up with someway make the cost a bit more specific.

They asked, and the town now has the answer. The town has created the Override Impact Calculator, a simple application in which all a person needs to do is input their address and the calculator will take the latest assessed value and calculate both the override amount and the annual 2 1/2 percent tax increase.

“This came out of [Financial] Task Force meetings with the hope to get more information to the residents,” said Town Administrator Patrice Garvin who helped introduce the override calculator at the Select Board meeting on Monday, Feb. 1.

“This is an opportunity for us to get beyond just the averages and talk about specifically how individual homeowners and taxpayers are impact so I think it’s great,” said Board member Tom Caputo, who is also the chair of the task force.