Boxborough Finance Committee Challenges Assessor on $1.5 Million Overlay Reserve

BOXBOROUGH -- June 5, 2025, Boxborough Finance Committee questions $1.5 million overlay reserve and revaluation fund balance. Town Assessor Kelly Kozik appeared before the committee Thursday to defend the overlay reserve, currently standing at $1,516,518.78, and the annual $30,000 revaluation appropriation, both of which drew scrutiny at the spring annual town meeting. Kozik cited Massachusetts General Law Chapter 59, Section 25, and DOR Informational Guideline Release 17-23, arguing that known liabilities including a five-year average of abatements and pending Appellate Tax Board cases total approximately $1.75 million, technically exceeding the current balance. Finance Committee Chair Tony Newton pressed Kozik on whether annual $30,000 contributions could continue meeting DOR requirements if the existing $120,000 fund balance, roughly four years of projected spending, were drawn down first; Kozik confirmed past $30,000 annual appropriations have satisfied DOR but said she would need to consult with her state representative before committing to a minimum reserve figure. Members also flagged a disputed $3,500 planning board budget line as evidence of inadequate ClearGov software procedures and agreed to schedule a joint process review with Town Administrator Mike Hungwa before the FY27 budget cycle.