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— Quincy Massachusetts News by Quincy Quarry News – News, Opinion and Commentary.
Tax collector Herr Dobermann and his guard dog
A meme
Quincy Quarry News has undertaken arguably its most comprehensive review ever of an apparent koching-up inflicted upon long suffering Quincy locals.
The focus of this latest hard-hitting to the stones Quincy Quarry News’ exposé?
Aspects of the serious problems with the City of Quincy’s finances which will likely result in soaring property tax bills come the start of the new 2026 tax year as well as that further ugly tax bill increases are likely to continue for the rest of the decade.
The core driving factor: roughly $26 million in city obligations for FY 2026 not included in Quincy Mayor Thomas Koch’s FY 2026 budget.
No sign of the MIA 26 large here
A 2000 election Free Republic image
A budget which was unquestioningly approved by an always compliant Quincy City Council just last month.
The approved City of Quincy FY 2026 budget runs $36 million more than the budget for FY 2025, a roughly 8.6% increase even if it does not include the MIA 26 large.
Even so, the dollar amount increase of the FY 2026 spending increase per the approved FY 2026 budget sets a new modern era record in terms of dollars even though its 8.6% increase is less than a duly counted 9.8% spending increase in FY 2024.
Only properly Include the MIA $26 million into the mix, however, and the FY 2026 spending would total up to $62 million increase from FY 2025 spending as well as works out to be a near 15% increase on a percentage basis with both of these duly revised measures setting new records.
New records going away.
Blown away going away new records.
$16 million of the MIA 26 large ties to a Massachusetts Public Employee Retirement Administration Commission (“PERAC”) assessment imposed upon the City of Quincy.
The reason for the assessment?
Ruh roo …
Image via hustlermoneyblog.com
The city’s employees retirement fund net worth is insufficient to fulfill the actuarial pension obligations due city employees, exclusive of teachers whose pensions are tied to the state’s teachers pension fund.
That this year’s PERAC assessment is Inexplicably MIA in Mayor Koch’s city council-approved FY 2026 budget is at least curious as assessments have been annual budget expense items during the arguably too long and definitely profligate reign of the Koch Machine.
What $16 million PERAC assessment?
Image via WHDH
Further inexplicable as to why the assessment is MIA is that PERAC provided multiple advance notices to the City of Quincy regarding the $16 million assessment for FY 2026 as far back as at least late last year per standard operating procedure.
A key factor driving the assessment is that Quincy Mayor Koch’s not recommended plan to issue $475 million in risky Pension Obligation Bond debt in 2021 to then invest the net proceeds from this half a billion dollar bond issue to prop up a then woefully underfunded pension fund has failed to meet plan.
Taking care of a friend in a smoke-filled backroom
A Cassius Marcellus Coolidge image
Additionally worsening the actuarial shortfall of the City of Quincy’s pension fund and thus increasing annual PERAC assessments imposed upon local taxpayers, the Quincy City Council keeps approving unfunded cost of living increases to retired city employees’ pension benefits.
Further ugly, the $16 million FY 2026 PERAC assessment is slated to increase by 5.4% every year through FY 2038 and so hit $30,075,116.00 in FY 2028 before tapering down to the mid-$18 million range in FY 2029 and FY 2040.
So long as nothing more goes wrong, that is.
Enough already
A file photo
In short, yet another koched-up fail imposed upon local taxpayers who will have to fund PERAC’s assessments for the next 15 years instead of just the debt service on the $475 million pension obligations bond issue which they were told by Mayor Koch would take care of the pension fund’s then sorely underfunded status four years ago.
Then again, what’s upwards of a billion dollars including projected interest debt service expense in total to make sure that Mayor Koch as well as his hack hires’ pensions are duly funded?
And as for the $10 million more not budgeted, it is a pro forma projection as to what it will cost to cover raisers given new and impending union contract for city workers.
Teachers picketing for a new contract in 2023
A Quincy Quarry News exclusive file photo
To this projection, the Quarry can only properly note that only a new contract with teachers was been reached AFTER the mayor’s budget was approved as well as that one of the other unions have reached new contact agreements.
Regardless, the cost of raises for city union member employees will most likely need to be funded by local taxpayers via an off the budget books and thus endeavored to be flown under the radar Line 10 adjustment when the Massachusetts Department of Revenue certifies Quincy’s CY 2026 property tax rates most likely in December and thus after November’s local city council elections.
Speaking of property taxes, the quants on Quincy Quarry News’ financial and other affairs desk are projecting a near 15% city spending increase in FY 2026 from FY 2025 spending.
Sussing out the numbers and they are scary ugly
A file photo
In turn, the projected 15% spending increase would indicate potential residential property tax bill increases on the order of at least 10% to 12% unless Mayor Koch has a fat honey pot of cash unknown to Quincy Quarry News’ dogged, if not also rabid, financial investigators.
Even worse for long suffering local taxpayers, given a cache of untapped property tax levy, Mayor Koch can so skirt Prop 2 1/2 spending increase limits as the untapped levy allows him to skirt holding a Prop 2 1/2 override vote even though the apparently actual City of Quincy spending increase looks to be running roughly $15 million more than the usual baseline Prop 2 1/2 tax levy limit were there not accrued untapped tax levy to tap.
Further worse, given all manner of already set obligations in coming years by Mayor Koch, similar levels of in excess of standard Prop 2 1/2 levy limits taxation look likely for at least most of the rest of the decade.
Tax dollars going up in smoke
Image via cheatsheet.com
In turn, such will likely result in the painful picking of local property owners’ pockets given largely how the mayor has made a number of at least ill-advised to arguably flat out bad decisions in years past.
Further worse yet, Quincy Quarry is continuing to look into upwards of $23 million more in apparent city obligations apparently not budgeted or otherwise paid over the course of FY 2025 and FY 2026.
That and surely also all but assuredly further attention by Standard and Poor.
Let’s not forget his plans for the “much asked for” performing arts center and the presidential library, the rent being paid to a developer in the Marina Bay for the sailor statue in “Navy Park” which could very well have been placed at the site of the now gone Beachcomber, the $27,000,000.00 animal shelter, and the $300,000.00 loss of the sale of city property to a developer… Oh yeah, what about those new gas lamp style street lights on Adams street between Whitwell Street and Newport Ave/Burgin Parkway …
And—poof—they’re back with a vengeance, like that one guest who shows up uninvited to every city hall party.
Meanwhile, Mayor Koch and his trusty, ever-compliant city council signed off on a record-busting budget increase without so much as a blink or a back-of-the-envelope note about their pension shortfalls. Those untapped tax levies? That’s just an emergency life raft tossed in the fine print so you don’t revolt because who needs Prop 2½ overrides when you’ve got legislative smoke and mirrors?
Let’s do the math, folks: $36 million in baseline over last year, plus the “MIA” $26 million? That’s a $62 million tsunami in spending —- or about a 15% surge in annual spending while your property tax bill inches closer to a 10–12% smack in the face. And guess what’s on deck for the next 15 years? Oh, just a PERAC bill that hikes 5.4% annually, ballooning the city’s tab to $30 million by 2028. If this were a TV show, it’d be called Pensions Gone Wild.
So yes, Quincy residents -— you’re not topping today’s taxes; you’re entering the Twilight Zone of fiscal mismanagement. Bring popcorn—or better yet, protest signs.
Please remember to vote against all of the Rubber Stampers and thus empty suits on the city council who are up for re-election for some during the primary thru next Tuesday as well as all in November. They have no shame in polluting our streets with their campaign signs. Conversely, try calling or emailing the councilors and getting a reply.
Office hours in the middle of the summer does not cut it nothing but a publicity act of desperation.
You have choices in Wards, 1,3,4, & along with the councilors at large to rid the council of the lazy rubber stampers. It has always been easier to vote with the administration opposed to doing their homework and listening to their constituents. Elect people who will do the job opposed to always looking for a pay raise or another public payroll position.