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Quincy 2023 property tax rates approved, gamed – whatever
– News about Quincy covered by Quincy Quarry News
What happens to Quincy tax dollars …
Image via cheatsheet.com
In the wake of Quincy Mayor Thomas Koch securing approval of his record-setting city spending increase – $27 million and thus 7.7% increases from Fiscal Year 2022 spending – via the approval of his Fiscal Year 2023 budget last June, this week he had to set the 2023 property tax rates needed to cover the nut.
Absent tax increase-mitigating adjustments such as increased tax revenue arising from “New Growth” given new developments and renovations, a $27 million annual spending increase by the City of Quincy would require a roughly $675 dollar increase on the 2023 property tax bill of a local homeowner with a home that is assessed at the average local assessed value of $602,000.
An angry mob venting its wraith
An old Universal Pictures image
Needless to say, with the mayoral and city council elections coming up in eleven months, imposing upwards of a $675 average property tax bill would be political suicide.
As such, Quincy Mayor Thomas P. Koch tapped every cookie jar he could so as to endeavor to avoid having to face an angry mob of local taxpayers.
First up, he scored $3 million worth of cookies as he apparently budgeted fat on city employee healthcare costs even though he retained an outside consultant to advise him on such expenses.
Then again, perhaps hiring the consultant was done so as to provide cover for the corpulent Koch Maladministration given its yet again larding fat into the healthcare annual budget line item and so fatten its spare cash kitty.
Fortunately, his gut is hiding his ding-a-ling
An Adobe stock image
Next up, Koch will be tapping $10.5 million from the City of Quincy’s Stabilization Fund, the city’s emergency “Rainy Day” fund.
So what if there is no financial emergency – other than koched-up spending that is.
Granted, the Koch Machine announced plans to latter reimburse the Rainy Day fund by $6.5 million once the Department of Revenue (“DOR”) certifies Quincy’s “Free Cash” (funds appropriated in 2022 that ended up unspent).
So what, however, for the fact that the Koch Maladministration could not offer a hard timeline as to when the DOR might certify Quincy’s Free Cash even though the DOR has already certified Free Cash for many other communities, not to mention that the maladministration retained another surely well-paid outside advisor to help out with its processing of Free Cash.
Promises, promises …
Image via Excalibur
Also so what for the fact that even if the “promised” reimbursement of the Stabilization Fund ends up actually happening at the level touted, the “pending” reimbursement will only partially reimburse The City of Quincy’s Stabilization Fund reserves to roughly but a quarter of standard practice expectations of credit rating agencies, the DOR as well as others.
Further disconcerting, the “projected” eventual level will be roughly a third LOWER than the previous but 40% of the SOP expectation for municipal reserves.
With the City of Quincy hit with a credit rating cut last year, something which the Koch Machine has been chary to acknowledge, the combination of a massive spending increase in Fiscal Year 2023 and conversely a worrisome cut in city reserves will surely raise eyebrows among credit ratings firms as well as also likely result in elevated interest rate premiums imposed upon City of Quincy debt.
Is the City of Quincy’s credit rating heading further south?
Image via barrons.com
And speaking of reserves, to complete covering his FY 2023 spending nut, Mayor Koch forced the City Council to approve tapping $5.25 million from a restricted reserve fund that was required as a part of the terms of last year’s $475 million bond issue to bailout the City of Quincy’s then woefully underfunded employee pension fund.
The argument foisted by the Koch Machine for tapping this supposedly not to be tapped reserve fund as near as Quincy Quincy could parse out of all the bovine byproduct shoveled at Monday night’s council meeting: the $5.25 million was put into the restricted reserve a year earlier than it needed to be deposited.
No explanation, however, was offered as to why then was the $5.25 million funded via the 2022 property tax levy.
Follow the money. Always follow the money …
Image via oxycom.com
In short, $20 million in Koch and mirrors were gamed so as to hold the local 2023 property tax increase to a hoped to be tolerated 3% increase in advance of next fall’s mayoral election.
Will it work, however, remains to be seen.
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Thank our outstanding Mayor, Tom Koch, for improving city services while keeping our tax bills from going through the roof. Well done, Tom.
Porky, Koch is a con man, and you are a chump. Sorry, but those are truths.
Pigsty — though it’s clear that you’re semi-conscious at best, everyone else sees that the tax bills have been through the roof for quite some years. You must be a feeder on the city trough.
You Qanon Quarry conspiracy theorists both need to seek psychiatric help.
The cost of EVERYTHING has risen over the past few years. Moreover, the city is cleaner, greener and looks fantastic. Quincy’s schools are new; students are more diverse. Our fire and police are the best in the state, and our roads are among the finest roadways in the country. Parks, playgrounds, and common areas are safe and well-maintained. Let us not forget that local businesses are buzzing even before the city’s first recreational marijuana shop opens! What’s not to love? We can only hope (and pray) Mayor Koch gets control of Wollaston Beach to restore the beach to its glory days.
Fanciful Kochtales, Pork. I genuinely feel bad for you.
I’m not pro-Koch; I’m pro-Quincy! Tom Koch earned my vote.
Earned or bought?
Porky,
You do realize, don’t you, that firing up a fatty while behind the wheel of a city ride and on the clock as the DPW’s designated Dunkie runs go-fer would be a firing offense by any other employer?
DEA Dan or Dan, that holds the piss cups steady at the DoT drug testing collection facility?
Let me share a fact. If you can get from your mom’s basement to a Game Stop, you owe the hard-working men and women of the DPW a Dunkie run!
Porky,
Had to provide a few samples over the years?
Pork Chop has to be posting satire — no one could possibly be that much of a dope. He clearly forgot to add the ‘/s’ after his hilarious comments.
But then again . . .
I do not understand all of the negativity in the comments.
Take a ride down Hancock Street. Do you know you can do your holiday shopping without leaving the city?
Walk around Merrymount Park or any of the well-maintained city parks. Brings the kids and your family dog; all are welcome.
The fresh air and exercise will do you all good.
Quincy is and looks AMAZING!
How much are you being paid to post your hyperbolic baloney and sycophantic drivel? Maybe you work for a PR agency.
Here’s a hint for you . . . nobody’s buying it.
Another Qanon Quarry cult member chimes in.
You got me, FL; I’m being overpaid with #QuincyPride and here to share some city pride with you nit-picking nancies!
Porky,
This Quincy Pride? https://quincypride.com
There are more city employees in the closet than in the office! Any more ? pride at city hall, the building would be empty!
So, you’re a pimp.
Porky,
The only way I can do all of my holiday shopping within Quincy is if I shop on Amazon.
See, you don’t have to leave Quincy. Amazon can deliver to every home and business in the city thanks to well-run local government. I’m not crazy!
Happy Holidays ?
Porky,
Big whoop. My cousin in Everett can also just as easily do at least most of her Christmas shopping on Amazon.
Oddly, I can not find a Walmart or Target in Everett.
FYI, Everett is more of a crime scene than a city. Package ? ? theft is how many residents of Everett shop and support their families.
QPD keeps our streets and packages safe.
Happy Holidays Hairy Mom ?
Porky,
I am ROTFLMAO over your touting of Walmart as a desirable retailer.
That and good luck figuring how to get in and out of the recently opened mini-Target next to the North Quincy T station.
Then again, it’s not like you have to shop for Christmas gifts for a woman — other than some new support hose for your long-suffering mother that is.
Dom,
A team of my municipal budget analysts reviewed the City of Quincy’s FY 2023 budget and I would not be surprised one whit of Pork Chop was part its planning team. Note: this is not meant as a complement.
The “budget” is clearly a work of fiction. A crock.