ContributorThe article, “Select Board Sets $8.4M Override,” which appeared in the February 2 issue, says, “at least one woman, however, cautioned the Select Board to consider the impact a large override may have on residents, particularly seniors.”
Allow me to clarify the remarks I made at that meeting on: 1) reverse mortgages; and 2) the effect of canceling the library and/or rink projects.
Many who support the override have pointed to various options available to people who cannot afford the increase in taxes that the override would entail. One of these is the ability of seniors to defer payment of their property taxes. However, reverse mortgage holders must pay their property taxes in full as a condition of the mortgage. It is extremely important that as reverse mortgage holders consider whether to vote for the override, they are aware of this. Additionally, anyone who has deferred property taxes and decides to obtain a reverse mortgage must pay off the entire amount that has been deferred, including interest.
At the January Town Meeting, Select Board Chair Roy Epstein noted that canceling the library and/or rink building projects would not affect the items that comprise the operating budget. This is correct, but were those projects to be canceled, it would reduce the amount appearing on the bottom line of every taxpayer’s property tax bill.
Judith Feinleib, Oakley Road
Precinct 6 Town Meeting Member
