Update
This article, when it was originally posted, stated the average baseline FY2026 tax impact without an override would be $225.50. This has been corrected to $226.22 based on updated assessment data.In welcome news for Stoneham voters, the actual tax impacts for FY26 in all three scenarios ($12.5m, $9.3m, and no override) are coming in lower than anticipated. Our tax impact calculator has been updated with official FY2026 assessment data from the Stoneham Assessor's Office and the certified tax rate of $10.06 per $1,000--replacing earlier projections with real numbers.
The numbers
- $12.5M override: $1.75 per $1,000 (down from $1.89 estimate)
- $9.3M override: $1.30 per $1,000 (down from $1.40 estimate)
- For the average home: $31-$46 lower annually impact than projected
The reduction stems from higher-than-expected growth in total property valuations across Stoneham. When the same override dollar amount is divided by a larger assessed valuation base, the cost per $1,000 decreases. This also reflects strong appreciation in Stoneham home values--good news for homeowners' equity.
What about the base?
The FY2026 tax rate actually decreased to $10.06 from approximately $10.23, but most homeowners will still see higher bills because individual property assessments increased. A home assessed at $765,770 last year and $801,126 this year would see a baseline tax bill increase of about $226.22 (with no override)--which is lower than the originally anticipated $300-400 baseline increase many expected. The rate decrease is driven by Proposition 2½ mechanics: when total town valuations increase faster than the capped levy growth, rates must decline proportionally.
The updated calculator provides exact FY2026 tax bills for each scenario using official data, and includes a year-over-year comparison showing your historical FY2025 tax amount alongside your FY2026 projections. This allows you to see both the baseline increase (due to assessment changes and standard levy growth) and the additional impact of each override option. While the lower-than-expected impact is positive news, Stoneham's budget challenges remain. The override vote is approaching--residents can now make informed decisions with accurate numbers to understand the impact Voting YES for $12.5M and YES for $9.3M will have on their households