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FAQ Topic: Finance Information

What is Proposition 2 1/2?

One of the most misunderstood concepts of municipal taxation is the meaning of Proposition 2 ½.  This legislative initiative was enacted in 1980 to limit the increases of property taxes in Massachusetts.  Proposition 2 ½ has performed its tax limiting function since then in the following manner. 1)      A community cannot raise more than 2 ½ … Continued

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