Lexington, MA: town finances
Fair finances; typical savings (7% of budget); almost no room under the tax cap; another override vote likely.
Budget grade
Better than 47% of MA towns · score 78 of 100
± Borderline: the score is within 2 points of the B/C cutoff, so a small change in the data could move the budget grade.
Ability to pay
Top 5% for income and property value
Shown separately; not part of the budget grade. Income per resident $114,758 (Census ACS 2020-24); property value (EQV) per resident $552,286 (DLS 2024).
Chance of an override vote
5 points on our 0-8 scale: Low 0-2, Medium 3-4, High 5+. It ranks towns; it is not a percentage.
The story in charts
No override, no problem? Lexington's bills are up 67% through the back door.
The next chart estimates Lexington's structural gap under Prop 2½: what it costs to keep running the town at its recent pace, against what it can raise without a vote. They are estimates, not reported deficits. Towns must balance their budgets, so a gap gets closed with cuts, reserves, fees or an override vote. Method and other towns
Lexington's budget is on track to fall about $1,600 per home short by 2031
Lexington also appears in: School budgets grew faster than 2.5% a year in all eight towns, even where students left · Cost per student rose 44–71% in seven of eight towns, while enrollment fell in six · The wealthiest big suburbs: fewer students, costlier schools, tax bills ahead of inflation
Key numbers
| Measure | Lexington | Median MA town |
|---|---|---|
| Typical tax bill, FY2026 (average single-family) | $20,394 | $6,755 |
| Tax bill as a share of median household income | 8.6% | 6.4% |
| Tax bill growth per year, FY2016-26 | 4.64% | 3.95% |
| Override vote dates, last 5 years | No | 35% of towns had one |
| Savings (reserves), % of budget, FY2024-26 average | 7.0% | 7.3% |
| Debt, % of property value, FY2023-25 (voter-approved debt at half weight) | 0.89% | 0.70% |
| Debt payments inside the tax cap, % of budget | 2.4% | 1.3% |
| Unused room under the tax cap, FY2026 (% of max levy) | 0.03% | 0.34% |
| School enrollment, 5-year change | -5% | -2% |
| Students per teacher, 2025-26 | 10.3 | 11.4 |
| Median single-family sale price, 2024 | $1.9M (224 sales) | $614k |
| Single-family price change, 2019-24 | +55.1% | +52.8% |
| Median household income (Census, 2020-24) | $238,444 | $113,750 |
| Population (DLS) | 34,074 | 10,585 |
Main school district: Lexington. Shaded = worse than the median town on tax bill share or enrollment. Medians are across all 351 towns with data.
Why this budget grade
Budget grade C, fair (78/100, near the B/C line; better than 47% of MA towns): reserves averaged 7% of budget over FY2024-26 (state median 7.3%); debt 0.89% of property value with voter-approved debt at half weight (1.36% before; median 0.70%); debt payments inside the tax cap 2.4% of budget (median 1.3%). 70% of debt payments are voter-approved and paid outside the cap.
Why this chance of an override vote
Chance of an override vote: High (5 pts): almost no unused room under the tax cap (0.03% of max levy, +3); voter-approved debt or capital increase passed since July 2021 (+1); school spending grew 5.5%/yr vs 5.3%/yr for the tax cap limit, FY2020-2025 (+1).
Context, not scored
Teacher jobs -2.5% last year; enrollment -5% over 5 yrs; news: cut: ~65 FTE cut, ~160 non-renewal letters; tax bill 8.6% of median income (state median 6.4%).
In the news: Cut: ~65 FTE cut, ~160 non-renewal letters
"pts" are points toward the chance of an override vote. Max levy is the most the town can raise without a vote under Prop 2½. See how the budget grade works.
See this town in the full data table →