Saugus city -- Special Assessments Tax

Saugus city -- Special Assessments Tax

Posted in the Saugus Forum

Saugus Ordinary people

Salem, MA

#1 Mar 31, 2012
Saugus city in MA start charging home owners Special Assessments tax from last year. Last year they said it is because of snow removal. City ran out of money in Snow removal account and need help.

What is for this year ? There is no snow ?
Bonanza

Woburn, MA

#2 Feb 4, 2016
Saugus Ordinary people wrote:
Saugus city in MA start charging home owners Special Assessments tax from last year. Last year they said it is because of snow removal. City ran out of money in Snow removal account and need help.
What is for this year ? There is no snow ?
Very little snow through February 4, 2016 either. No chance of a special rebate on our tax bill however despite the 2 mil plus of "free cash" on hand in somebodys favorite bank earning minimum interest.
Warren Buffet

Boston, MA

#3 Apr 30, 2016
Bonanza wrote:
<quoted text>
Very little snow through February 4, 2016 either. No chance of a special rebate on our tax bill however despite the 2 mil plus of "free cash" on hand in somebodys favorite bank earning minimum interest.
According to the local press the amount of "free cash" has reached $4,352,815. The article also states that this amount should improve the town's bond rating in the event that Saugus should need to borrow money for future projects. Why not simply use the money to fund as much as possible of the cost of these projects instead of paying the interest necessary to be paid to any lenders in the first place? What kind of interest will the 4 mil+ earn just sitting in someone's favored bank?
Tangled web

Watertown, MA

#4 May 23, 2016
Warren Buffet wrote:
<quoted text>
According to the local press the amount of "free cash" has reached $4,352,815. The article also states that this amount should improve the town's bond rating in the event that Saugus should need to borrow money for future projects. Why not simply use the money to fund as much as possible of the cost of these projects instead of paying the interest necessary to be paid to any lenders in the first place? What kind of interest will the 4 mil+ earn just sitting in someone's favored bank?
Wasn't it heartwarming to watch planning board chairman Peter Rossetti telling the members of the board of selectmen and a baffled TV audience about the "good news" they were about to hear from Mr. January concerning the disposition of the property (Hilltop) owned by his (Rossetti's) clients soon to be purchased by, as of 5/23/16, a mystery group of businessmen.
Autobahn

Waltham, MA

#5 Jun 6, 2016
Tangled web wrote:
<quoted text>

Wasn't it heartwarming to watch planning board chairman Peter Rossetti telling the members of the board of selectmen and a baffled TV audience about the "good news" they were about to hear from Mr. January concerning the disposition of the property (Hilltop) owned by his (Rossetti's) clients soon to be purchased by, as of 5/23/16, a mystery group of businessmen.
Interesting. In addition, who would have a precise account and estimate of how many "special" permits have been and will be issued to large construction companies, especially for projects adjacent to Route 1 since Rossetti became chairman of the planning board? Citizens have painstakingly learned that it is best to avoid Saugus' main thoroughfare for increasingly long periods of time each day. Until the planning board's proclivity for handing big business "special" permits ceases, any Saugonian would best plan to use our main thoroughfare from about 1AM to 4AM since attempting to use this route at other times are, and increasingly will be, frustrating if not impossible.
Tides out

Bedford, MA

#6 Jun 8, 2016
Warren Buffet wrote:
<quoted text>
According to the local press the amount of "free cash" has reached $4,352,815. The article also states that this amount should improve the town's bond rating in the event that Saugus should need to borrow money for future projects. Why not simply use the money to fund as much as possible of the cost of these projects instead of paying the interest necessary to be paid to any lenders in the first place? What kind of interest will the 4 mil+ earn just sitting in someone's favored bank?
With all this money sitting in a favored bank, most likely earning minimal interest, why the rush to increase water rates 9.5 per cent? Are there prohibitions that prevent the town from using this money on water projects?

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