2024-03-18 SB Packet - Released - Laserfiche WebLink

Browse Search

• A new local-option means-tested property tax exemption for seniors,allowing cities and towns to offer additional property tax exemptions to qualifying seniors based on specific income and asset levels,residency duration,and homeownership. • Extension of the local option for personal exemptions to seniors,blind persons,and others, allowing those whose domiciles are held in trusts or other arrangements to qualify for exemptions. • Authorization for municipalities to increase existing senior property tax exemptions beyond the current$5001imit. These measures,if passed by the legislature,could provide a framework for Lexington to advance its age-in-community initiatives,offering financial stability and support for seniors to maintain independent living in their homes. Goal#7: Raise community awareness and engagement with the high school project (primary:Suzie Barry,assistant:Joe Pato) Update: • Working with the School Building Committee to publish and inform the community of community meeting information and updates on the Town website and in Link to Lexington e- newsletter with clear reference to LHS Project website. „ „ ....� .�.. .��".�.�� . � . �.��„ The Select Board is committed to ensuring fiscal responsibility and sustainable growth through careful budget and financial planning for FY2025,focusing on preserving the Aaa bond rating,avoiding operating overrides,and planning for significant projects like the new Lexington High School.The FY2025 budget, developed without a Proposition 21/2 Operating Override, supports the Board's vision for Lexington, emphasizing staffing,environmental initiatives,capital improvements,and infrastructure maintenance to achieve a balanced financial plan that aligns with community priorities. Staffing-The budget incorporates staffing expansions to address the operational needs arising from new town bylaws and to continue investments in environmental initiatives, such as electric vehicles and enhancing our food waste and composting program.Specifically,it funds new roles such as an Assistant Superintendent of Public Grounds and a part-time Code Enforcement Officer, in response to the requirements of new tree and noise bylaws,as well as fire and mechanical inspectors due to the uptick in development from zoning bylaw modifications. These additions reflect the town's commitment to managing increased service demands while adhering to stricter regulations. Capital Improvement and Infrastructure-The Capital Improvement Program is designed to make timely investments in town assets,enhancing public services.The FY2025 Capital Sudget includes funds for the new Lexington High School and allocates $6.0 million for renovations at 173 Sedford Street. This renovation is crucial for reorganizing town assets in light of the high school project and will make the building suitable for the School Administration staff during the construction period.The work involves installing an elevator,replacing the HVAC system,adding a sprinkler system,and reconfiguring interior spaces.Additional updates will be required after the Lexington Police Department relocates,especially to improve accessibility,fire protection,and new electric HVAC systems. 6