Override Calculator
Beverly faces a projected $7.1M structural deficit in FY2028, nearly double the current-year gap. Explore what different override amounts would mean for the city's budget and for your tax bill.
Find your home's assessed value
Search your address to auto-fill the home value below. Uses FY2026 Beverly assessment data.
Revenue vs. Expenditure Trajectory
Projected total revenues (levy + state aid + local receipts) and total expenditures through FY2036. An override raises the levy and total revenues permanently in FY2028.
Annual Budget Gap / Surplus
Difference between total revenues and expenditures each year. Below zero means a structural deficit.
- FY2027 base levy: $139.6M; total revenues $178.9M; total expenditures $182.8M (City of Beverly Financial Forecast FY2026–2030, December 2025)
- FY2027 total assessed value: ~$12.1B (estimated based on FY2026 actuals; FY2027 residential rate estimated at $10.97/$1,000 AV)
- FY2028 projected deficit without action: $7,107,323, drawn directly from FFC five-year forecast
- Expenditure growth: 6%/yr, a constant rate simplification based on the FFC's stated estimate; actual growth will vary by year depending on health insurance, SPED placements, debt service, and collective bargaining outcomes
- Revenue growth without override: ~2.5%/yr (Prop 2½ limit); new growth and state aid are assumed to roughly offset each other, a simplification that may not hold every year
- Override permanently raises the levy limit; future growth still capped at 2.5%/yr above the new base
- Assessed value assumed to grow ~4%/yr; residential tax rate impact calculated on projected AV
- Beverly has ~15,400 housing units (2020 Census); tax bill impact uses your selected home value and the calculated residential rate change
This model is a planning tool, not a forecast. It uses constant growth rates for readability. Real outcomes depend on annual budget decisions, collective bargaining, state aid, and new development. For official projections, see the FFC's published forecasts.