the tax levy that those various classes will pay. By increasing those percentages, the residential percentage is lowered by 6.06%. As a result, residential property makes up 92.23% of overall value in the city but pays 86.4% of the tax levy. Commercial property makes up 5.81% of value but pays 10.17% of the tax levy. Industrial property makes up 0.54% of value but pays 0.94% of tax levy. Personal property makes up 1.42% of overall value in the city but pays 2.49% of the tax levy. The total property tax levy for FY26 is $460,483,221. Below is a historical view of the tax levy and associated collections for the city of Newton.
Fiscal Year
Prior Year Levy Limit
2.50% Increase
New Growth
Debt Service
Levy Limit
Actual Levy
Reserve
2017
$304M
$8M
$5M
$2M
$318M
$318M
$3,810
2018
$316M
$8M
$6M
$2M
$332M
$332M
$28,057
2019
$330M
$8M
$6M
$3M
$347M
$347M
$15,068
2020
$344M
$9M
$6M
$3M
$361M
$361M
$31,383
2021
$358M
$9M
$6M
$3M
$377M
$377M
$94,709
2022
$374M
$9M
$6M
$3M
$392M
$392M
$15,197
2023
$389M
$10M
$6M
$3M
$408M
$408M
$18,351
2024
$405M
$10M
$6M
$3M
$424M
$424M
$10,098
2025
$421M
$11M
$6M
$4M
$441M
$440M
$16,098
2026
$437M
$11M
$7M
$5M
$460M
$460M
$0
In the fiscal year 2026 4 , the City of Newton proposed a $547M budget of which the city projects a property tax levy of $455M. Like most cities and towns in Massachusetts, Newton relies on local revenue sources like property taxes which make up 83% of total City of Newton revenue in the annual budget. The FY26 school department budget was allocated $292M or 53% of the City of Newton budget.
4 City of Newton FY26 Budget
-284-
Made with FlippingBook interactive PDF creator