Richmond, MA: town finances
Thin savings (4.2% of budget); override vote in 2026 and little room under the tax cap; another override vote likely.
Budget grade
Better than 25% of MA towns · score 71 of 100
Ability to pay
Top 10% for income and property value
Shown separately; not part of the budget grade. Income per resident $90,767 (Census ACS 2020-24); property value (EQV) per resident $470,486 (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.
Key numbers
| Measure | Richmond | Median MA town |
|---|---|---|
| Typical tax bill, FY2026 (average single-family) | $6,630 | $6,755 |
| Tax bill as a share of median household income | 6.2% | 6.4% |
| Tax bill growth per year, FY2016-26 | 3.59% | 3.95% |
| Override vote dates, last 5 years | Yes (1 vote) | 35% of towns had one |
| Savings (reserves), % of budget, FY2024-26 average | 4.2% | 7.3% |
| Debt, % of property value, FY2023-25 (voter-approved debt at half weight) | 0.92% | 0.70% |
| Debt payments inside the tax cap, % of budget | 0.0% | 1.3% |
| Unused room under the tax cap, FY2026 (% of max levy) | 1.14% | 0.34% |
| School enrollment, 5-year change | +3% | -2% |
| Students per teacher, 2025-26 | 7.9 | 11.4 |
| Median single-family sale price, 2024 | $485k (17 sales) | $614k |
| Single-family price change, 2019-24 | +54.0% | +52.8% |
| Median household income (Census, 2020-24) | $106,250 | $113,750 |
| Population (DLS) | 1,402 | 10,585 |
Main school district: Richmond. 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 (71/100; better than 25% of MA towns): reserves averaged 4.2% of budget over FY2024-26 (state median 7.3%); debt 0.92% of property value with voter-approved debt at half weight (1.84% before; median 0.70%); debt payments inside the tax cap 0% of budget (median 1.3%). 100% of debt payments are voter-approved and paid outside the cap. Small town: figures are volatile, and its score is pulled toward the state median.
Why this chance of an override vote
Chance of an override vote: High (5 pts): little room under the tax cap (1.14% of max levy, +2); override vote since July 2016, latest 2026-05 (+2); school spending grew 5.6%/yr vs 3.0%/yr for the tax cap limit, FY2020-2025 (+1).
Context, not scored
Teacher jobs +13.8% last year; enrollment +3% over 5 yrs; tax bill 6.2% of median income (state median 6.4%).
"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.
Override votes since July 2016
| Vote date | Result | Amount | Purpose (as listed by DLS) |
|---|---|---|---|
| May 21, 2026 | Passed | $250,513 | Stabilizing The Town'S Budget And Reserves |
Source: MA DLS Proposition 2½ override vote file, as of 25 Oct 2026. One ballot can carry several questions.
See this town in the full data table →