Stoneham Select Board Eyes Doubled Tax Exemptions, Override Information Sessions Set for December

STONEHAM -- November 4, 2025, Stoneham Select Board advances two new senior property tax exemption programs ahead of December 9 override vote. Town Assessor Sheryl Kozlowski presented a full inventory of existing programs and two new options: a 5C and a half local-option expansion that could double most existing exemptions using overlay funds and requires only a Town Meeting vote, and a Senior Means Tested Property Tax Exemption tied to the state's circuit breaker income threshold, capped at $2,730 per household for tax year 2024, that would also require state legislative approval as a home rule petition. Kozlowski estimated roughly 300 eligible homeowners in Stoneham, and comparable programs in Wakefield and Melrose have added approximately $25 to $35 per year to other residential tax bills. The board took no formal vote but directed the Board of Assessors to develop qualification criteria and cost projections for both programs, with a return planned for January or February. The board also received an unmodified fiscal year 2024 audit opinion from CLA, showing the general fund unassigned balance at $19 million and the pension system 92 percent funded, while members warned that a failed override would force more than $7.6 million in cuts, roughly double the shortfall the town faced in the prior override cycle.