Economics

Socioeconomic


County	Norfolk
School Structure	K-12
Form of Government	Town Administrator Selectmen Open Town Meeting
2004 Population	7,997
2005 Labor Force	4,481
2005 Unemployment Rate	4.0
1999 Per Capita Income	27,957
2000 Population Per Square Mile	650.0
2000 Housing Units Per Square Mile	252.2
2004 Road Miles	50.11
EQV Per Capita (2004 EQV/2004 Population)	119,773
Number of Registered Vehicles (January 2005)	8,836
Average Age of Vehicles (January 2005)	8.06
2004 Number of Registered Voters	5,216

Bond Ratings


Moody’s Bond Rating as of May 2005*	A2
S & P Bond Rating as of September 2005*

*Blank indicates the community has not been rated by the bond agency.

Fiscal Year 2006 Estimated Cherry Sheet Aid


Education Aid	2,135,669
General Government	1,186,025
Total Receipts	3,321,694
Total Assessments	736,793
Net State Aid	2,584,901

Fiscal Year 2006 Tax Classification


Tax Classification	Assessed Values	Tax Levy	Tax Rate
Residential	938,311,694	10,790,584	11.50
Open Space	0	0	0.00
Commercial	53,232,866	612,178	11.50
Industrial	16,008,240	184,095	11.50
Personal Property	15,050,610	173,082	11.50
Total	1,022,603,410	11,759,939

Fiscal Year 2006 Revenues by Source


Revenue Source		Percent of Total
Tax Levy	11,759,939	57.1
State Aid	3,321,694	16.1
Local Receipts	3,428,515	16.6
Other Available	2,102,077	10.2
Total	20,612,225

Fiscal Year 2006 Proposition 2½ Levy Capacity


New Growth	133,653
Override	0
Debt Exclusion	848,097
Levy Limit	11,763,939
Excess Capacity	4,000
Ceiling	25,565,085
Override Capacity	14,649,243

Reserves Revaluation


7/1/2004 Free Cash	763,669	Most Recent	2005
FY2006 Overlay Reserve	105,099	Next Scheduled	2008
FY2005 Stabilization Fund	627,331

Fiscal Year 2006 Average Single Family Tax Bill**


Number of Single Family Parcels	2,107
Assessed Value of Single Family	363,463
Average Single Family Tax Bill	4,180

Millis issues property tax bills quarterly.

**For the thirteen communities granting residential exemptions, DLS does not collect enough information to calculate an average single-family tax bill. Those communities are Barnstable , Boston , Brookline , Cambridge , Chelsea , Everett , Marlborough , Nantucket, Somerville , Somerset , Tisbury, Waltham and Watertown . Therefore, the average single-family tax bill information in this report will be blank.

Fiscal Year 2005 Schedule A – Actual Revenues and Expenditures


	General Fund	Special Revenue	Capital Projects	Enterprise Funds	Trust Revenue	Total All Funds
Revenues	16,880,081	5,243,713			29,004	22,152,798
Expenditures	18,235,961	4,063,869	514,843	0	7,418	22,822,091
Police	1,114,075	0	0	0	0	1,114,075
Fire	387,749	0	0	0	0	387,749
Education	8,990,951	1,778,725