Board approves $40,000 overlay release for retirement liabilities
Board of Assessors releases $40,000 in overlay funds for retirement payouts. Chairman Jeffrey Klein and members Tammi Rice and Heath Widdiss unanimously approved the transfer from the FY2024 overlay reserve to overlay surplus, with Principal Assessor Paul Cibelli explaining that the town's
Board of Assessors · Meeting of March 17, 2026
SOUTHBOROUGH — Board of Assessors releases $40,000 in overlay funds for retirement payouts. Chairman Jeffrey Klein and members Tammi Rice and Heath Widdiss unanimously approved the transfer from the FY2024 overlay reserve to overlay surplus, with Principal Assessor Paul Cibelli explaining that the town's retirement fund is underfunded based on projected retirements over the next five to seven years. The Board also approved monthly motor vehicle excise tax abatements totaling $20,255.98 across 72 accounts, five senior tax work-off certificates totaling $1,271.25, and a personal property tax abatement of $410.70 due to data entry error.
Two real estate tax abatement applications were denied in executive session.
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Source: the Board of Assessors meeting of March 17, 2026, compiled from the official minutes.
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