Marblehead Fiscal Dashboard
Independent financial transparency for the Town of Marblehead, MA. Every number backed by audited public records.
Pre-rendered snapshot as of April 12, 2026. Machine-readable data
FY2027 At a Glance
- Total Budget (FY27)
- $122.7M — About $6,000 per household. Select Board approved 4-1 on March 27, 2026.
- Budget Gap (FY27)
- $7.7M — About $380 per household. 35-40 job cuts; 3-part override vote June 16.
- Avg Tax Bill (FY26)
- $11,094 — Based on the average home value (~$1.29M). Rate: $8.59 for every $1,000 your home is worth (down 46 cents from FY25).
- Rainy-Day Fund
- ~0.5% — State recommends 5% — Marblehead is among the lowest in MA
- Bond Rating
- AAA — 17 years running. S&P outlook changed to negative April 10, 2026.
- Free Cash Certified
- $9.5M — $7M used in FY26. Targeting ~$5M for FY27.
Where Your Tax Dollars Go (FY2024 Audited)
Source: FY2024 Annual Audit cross-referenced with FY2026 Finance Committee Report Art. 22. Total general fund: $106.3M.
| Category | Amount | % | Source |
|---|---|---|---|
| Education | $44.2M | 41.6% | FY2024 ACFR / FY2026 Finance Committee Report Art. 22 (cross-referenced); FY2027 School Budget (School Committee vote April 9-10, 2026; Marblehead Current, Independent, ItemLive) |
| Public Safety | $16.8M | 15.8% | FY2024 ACFR; FY2027 Select Board Budget (March 27, 2026) |
| Benefits & Insurance | $14.1M | 13.3% | FY2026 Finance Committee Report; FY2024 ACFR (Fringe Benefits); Marblehead Independent (GIC rates, 2026) |
| Pension | $8.9M | 8.4% | FY2024 ACFR (Note on Pension); FY2026 Finance Committee Report; S&P Global (April 2026) |
| Public Works | $6.2M | 5.8% | FY2024 ACFR; FY2027 Select Board Budget (March 27, 2026) |
| Debt Service | $5.8M | 5.5% | FY2024 ACFR; S&P Global Ratings (April 10, 2026) |
| General Government | $4.5M | 4.2% | FY2024 ACFR; FY2027 Select Board Budget (March 27, 2026) |
| Culture & Recreation | $2.8M | 2.6% | FY2024 ACFR; FY2027 Select Board Budget (March 27, 2026); Boston Globe (March 2026) |
| Sanitation | $1.9M | 1.8% | FY2027 Select Board Budget; Marblehead Current (March 25, 2026); Marblehead Independent (March 2026) |
| Other / Reserves | $1.1M | 1.0% | FY2026 Finance Committee Report Art. 18, 27; Marblehead Independent (January 2026) |
Where the Money Comes From (FY2024)
| Source | Amount | % |
|---|---|---|
| Property Tax | $82.8M | 78.0% |
| State Aid | $8.5M | 8.0% |
| Local Receipts | $8.2M | 7.7% |
| Free Cash Used | $7M | 6.6% |
| Electric Surplus | $0.36M | 0.3% |
Revenue vs Expenses Trend
| Year | Revenue | Expenses | Status |
|---|---|---|---|
| FY2019 | $86.2M | $84.8M | Surplus |
| FY2020 | $89.1M | $87.4M | Surplus |
| FY2021 | $92.3M | $90.1M | Surplus |
| FY2022 | $95.8M | $94.2M | Surplus |
| FY2023 | $99.5M | $98M | Surplus |
| FY2024 | $103.5M | $101.8M | Surplus |
| FY2025* | $103.3M | $104M | Deficit |
| FY2026* | $103.3M | $108M | Deficit |
| FY2027* | $101M | $104.2M | Deficit |
* = projection. Source: FY2024 Annual Audit 10-Year Tables; FY2025-2027 from Finance Committee/Town Admin projections.
What's Driving Costs Up
| Driver | Growth Rate | Severity | Detail |
|---|---|---|---|
| Salaries & Wages | 5-6% | elevated | Union contracts go up over time (~3% base plus steps and seniority pay). The FY2027 budget includes 35-40 job cuts across town and schools. Staff pay is ~80% of total spending. |
| Health Insurance | 9-15% | critical | The state health plan (GIC) average increase is 7.5% for FY2027 after benefit changes (dropped GLP-1 drug coverage). Before those changes, estimates ranged 9-13%. The Finance Director projected mid-teens. The private market is seeing 23-26% hikes. Expect double-digit increases for 2-3 years. (Sources: Mass.gov GIC rates; Marblehead Independent) |
| Pension Assessment | 8-9% | elevated | Follows a fixed payment plan set by law. The system is ~70% funded with a $54M gap between what's owed and what's saved (about $2,600 per person). Retiree health benefits are owed at $147M but only 3.37% funded. |
| Energy & Utilities | 4-5% | elevated | The town keeps energy/utility reserves to handle price swings. This practice has been in place since FY2007/FY2017. |
| Trash Collection | 4-4% | critical | ONE-TIME SPIKE: The old contract ended and the new one costs ~60% more (~$900K-$1M extra). After that, costs rise ~4% per year. A $2.3M trash override is on the June 16 ballot. If it fails, each household will pay about $281 per year for trash pickup (Health Dept estimate, assuming 3% opt-out). |
| Out-of-District Tuition | 4-5% | elevated | The state approves annual increases. Special education rules require certain student placements that drive up costs. The school budget absorbed a $3.1M gap using reserves. |
Town Profile
- Population
- 20,576
- Tax Rate (FY2026)
- $8.59 per $1,000
- Median Home Value
- $1,010,100
- Total Assessed Value
- $9.89B
- Outstanding Debt
- $127M
- Collection Rate
- 97%
- Pension Fund Status
- 70% funded ($54M still owed)
- Retiree Health Benefits Owed
- $147M (3% funded)
- Bond Rating
- AAA (S&P, a major credit rating agency, changed outlook to negative April 2026)