Watertown, MA: town finances
Heavy debt payments (11% of budget); almost no room under the tax cap; an override vote possible.
Budget grade
Better than 9% of MA towns · score 59 of 100
Ability to pay
Top 25% for income and property value
Shown separately; not part of the budget grade. Income per resident $73,851 (Census ACS 2020-24); property value (EQV) per resident $372,794 (DLS 2024).
Chance of an override vote
3 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 | Watertown | Median MA town |
|---|---|---|
| Typical tax bill, FY2026 (average single-family) | $8,094 | $6,755 |
| Tax bill as a share of median household income | 6.4% | 6.4% |
| Tax bill growth per year, FY2022-26 | 3.43% | 3.95% |
| Override vote dates, last 5 years | No | 35% of towns had one |
| Savings (reserves), % of budget, FY2024-26 average | 16.8% | 7.3% |
| Debt, % of property value, FY2023-25 (voter-approved debt at half weight) | 2.52% | 0.70% |
| Debt payments inside the tax cap, % of budget | 11.5% | 1.3% |
| Unused room under the tax cap, FY2026 (% of max levy) | 0.24% | 0.34% |
| School enrollment, 5-year change | +13% | -2% |
| Students per teacher, 2025-26 | 10.4 | 11.4 |
| Median single-family sale price, 2024 | $945k (71 sales) | $614k |
| Single-family price change, 2019-24 | +29.9% | +52.8% |
| Median household income (Census, 2020-24) | $126,265 | $113,750 |
| Population (DLS) | 35,022 | 10,585 |
Main school district: Watertown. 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 D, weak (59/100; better than 9% of MA towns): reserves averaged 17% of budget over FY2024-26 (state median 7.3%); debt 2.52% of property value with voter-approved debt at half weight (2.52% before; median 0.70%); debt payments inside the tax cap 11% of budget (median 1.3%).
Why this chance of an override vote
Chance of an override vote: Medium (3 pts): almost no unused room under the tax cap (0.24% of max levy, +3).
Context, not scored
Teacher jobs -0.8% last year; enrollment +13% over 5 yrs; tax bill 6.4% 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.
See this town in the full data table →
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