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The Key West Citizen
Key West, Monroe County, Florida
What is this article about?
Egremont, Massachusetts, a small town of 569 residents, is debt-free with a $12,000 surplus, boasting one of the lowest tax rates in the state and drawing regional attention for its pay-as-you-go financial policy, credited to Selectman William O'Neil and Treasurer William E. Boise.
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WINS ATTENTION
(Special to The Citizen)
EGREMONT, Mass., Feb. 17.
This little town of only 569 people is attracting wide attention in this section of the country for its unique financial position.
Free of debt, and with a surplus of $12,000, Egremont's tax rate is lower than all but fifteen out of 300 Massachusetts cities. Even five thousand dollars in uncollected taxes causes no worry because the town is collecting interest and the properties are sold to be worth far more than their assessed valuation.
Among the residents, credit for the town's financial standing is given largely to two men, Selectman William O'Neil and William E. Boise who has been the town treasurer for 42 years.
"We have always been a firm believer in the pay-as-you-go policy," said Mr. O'Neil. "Why go in debt when you can stay out of it."
And that, say the residents, is Egremont's financial program.
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Domestic News Details
Primary Location
Egremont, Mass.
Event Date
Feb. 17.
Key Persons
Outcome
debt-free with $12,000 surplus; tax rate lower than all but fifteen out of 300 massachusetts cities; uncollected taxes of $5,000 not worrisome due to interest collection and property values exceeding assessments.
Event Details
Egremont, a town of 569 people, attracts attention for its unique financial position: free of debt, surplus of $12,000, low tax rate. Credit given to Selectman William O'Neil and Treasurer William E. Boise (42 years in role). Policy: pay-as-you-go, avoiding debt.