Topsfield, MA: town finances
Low debt and solid savings (7.9% of budget); 6 override votes since 2016; another override vote likely.
Budget grade
Better than 59% of MA towns · score 82 of 100
Ability to pay
Top 25% for income and property value
Shown separately; not part of the budget grade. Income per resident $70,904 (Census ACS 2020-24); property value (EQV) per resident $321,611 (DLS 2024).
Chance of an override vote
7 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 | Topsfield | Median MA town |
|---|---|---|
| Typical tax bill, FY2026 (average single-family) | $14,483 | $6,755 |
| Tax bill as a share of median household income | 7.4% | 6.4% |
| Tax bill growth per year, FY2016-26 | 5.07% | 3.95% |
| Override vote dates, last 5 years | Yes (5 votes, 2 failed) | 35% of towns had one |
| Savings (reserves), % of budget, FY2024-26 average | 7.9% | 7.3% |
| Debt, % of property value, FY2023-25 (voter-approved debt at half weight) | 0.79% | 0.70% |
| Debt payments inside the tax cap, % of budget | 0.5% | 1.3% |
| Unused room under the tax cap, FY2026 (% of max levy) | 0.39% | 0.34% |
| School enrollment, 5-year change | -5% | -2% |
| Students per teacher, 2025-26 | 10.7 | 11.4 |
| Median single-family sale price, 2024 | $896k (49 sales) | $614k |
| Single-family price change, 2019-24 | +44.5% | +52.8% |
| Median household income (Census, 2020-24) | $195,718 | $113,750 |
| Population (DLS) | 6,504 | 10,585 |
Main school district: Topsfield. 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 B, solid (82/100; better than 59% of MA towns): reserves averaged 7.9% of budget over FY2024-26 (state median 7.3%); debt 0.79% of property value with voter-approved debt at half weight (1.35% before; median 0.70%); debt payments inside the tax cap 0.5% of budget (median 1.3%). 83% of debt payments are voter-approved and paid outside the cap.
Why this chance of an override vote
Chance of an override vote: High (7 pts): almost no unused room under the tax cap (0.39% of max levy, +3); override votes since July 2016, latest 2026-06 (+2); voter-approved debt or capital increase passed since July 2021 (+1); school spending grew 4.7%/yr vs 4.4%/yr for the tax cap limit, FY2020-2025 (+1).
Context, not scored
Teacher jobs +5.1% last year; enrollment -5% over 5 yrs; tax bill 7.4% 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) |
|---|---|---|---|
| Jun 17, 2026 | Failed | $93,472 | Essex Ns Tech Gross Budget Assessment |
| Jun 17, 2026 | Failed | $123,000 | General Operating Budget |
| Jun 17, 2026 | Failed | $140,316 | Masconomet Total Operating Assessment |
| May 7, 2026 | Failed | $317,084 | General Operating Budget & Snow & Ice Deficit |
| May 7, 2026 | Failed | $233,788 | Masconomet & Essex Ns Tech Budgets |
| May 8, 2025 | Passed | $891,075 | Elementary Schools Operating Budget |
| May 8, 2025 | Passed | $418,739 | Masco Reg. School Dist. Contingency Appropriation |
| May 8, 2025 | Passed | $491,764 | Masco Reg. School Dist. Operating Base Budget |
| May 9, 2024 | Passed | $336,556 | Masconomet Regional School Dist. Operating Budget |
| May 4, 2023 | Passed | $246,921 | Masconomet Regional School Dist. Operating Budget |
| May 4, 2023 | Passed | $1,139,926 | Elementary Schools Operating Budget |
| May 9, 2019 | Passed | $593,068 | Funding The General Fund Operating Budget For The Elementary Schools |
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 →