Milton is a town with a mix of financial puzzles. It's not a poor place, but it's facing some serious money problems. The median home price is a million dollars, and the average family brings in nearly 180, 000 dollars a year. Yet, the town is struggling with a double dose of financial trouble. There are mid-year cuts to the school budget and the possibility of higher property taxes. Residents will vote on a 9. 5 million dollar tax increase to keep education and other services from being cut too deeply.

    Some of Milton's money issues are self-made. Past accounting mistakes have left the town with a legacy of financial problems. Now, property taxes aren't enough to cover the town's growing expenses. Inflation and other rising costs are to blame. Milton isn't alone in this situation. Many towns in Massachusetts are facing similar challenges.

    Property taxes are the main source of income for towns in Massachusetts. But, the rules around how much these taxes can increase haven't kept up with the times. School budgets have grown to meet the needs of more students with disabilities. These students require expensive services. Add in high energy prices and soaring health insurance costs for town employees, and you have a recipe for a financial crisis.

    Milton is one of many towns in the Boston area facing this problem. Other towns have had to go to the ballot box to fix their budget shortfalls. During the pandemic, federal money helped Milton and other towns avoid raising taxes. But now, those funds have run out. About 50 towns in Massachusetts held tax overrides last year, and this year is expected to be even higher.

    Milton's schools are in a tough spot. If the tax override doesn't pass, the school system will have to cut spending by about 6. 3 million dollars. That could mean losing 76 jobs, including teachers and specialists, and cutting clubs and sports. Supporting the override means property tax bills will go up by about 1, 250 dollars. It's a big ask, but it's an investment in the town's future.

    Milton has a history of being against new development. This has led to a lack of commercial tax base, making residential property taxes high. The town has even rejected a state-mandated zoning plan for more multifamily housing. This has put Milton at odds with the state housing law. Despite this, there is hope. Supporters of the override have been out in force, and there is a sense of cautious optimism.

Milton's Money Maze: Schools in the Balance

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