Canton, Massachusetts · Saved source text
Fiscal Year 2022 Annual Comprehensive Financial Report pdf file
Saved text from 135 source pages. Transcription and OCR may contain errors; verify figures and wording against the original. Retrieved 2026-10-15.
Source page 121
ASSESSED VALUE AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY BY CLASSIFICATION AND TAX RATES
LAST TEN FISCAL YEARS
Assessed Value Tax Rates
Ratio of
Total Total State Assessed to
Fiscal Residential Commercial Industrial Personal Commercial Town Equalized Equalized Residential Commercial Average
Year Value Value Value Property Value Value Value Value Tax Rate Tax Rate Tax Rate
2013 $ 3,080,898,534 $ 433,793,536 $ 330,412,500 $ 126,558,890 $ 890,764,926 $ 3,971,663,460 $ 4,131,231,300 96.14% $ 12.30 $ 24.99 $ 15.15
2014 2,971,728,949 427,533,191 343,409,000 141,947,970 890,764,926 3,884,619,110 4,131,231,300 94.03% 12.87 26.53 16.08
2015 3,150,088,016 421,047,184 345,967,900 152,768,400 912,890,161 4,069,871,500 4,083,657,900 99.66% 12.82 26.36 15.88
2016 3,367,549,515 443,366,255 349,329,400 160,467,160 919,783,484 4,320,712,330 4,083,657,900 105.80% 12.79 26.36 15.78
2017 3,508,576,688 459,186,222 358,855,200 171,786,770 953,162,815 4,498,404,880 4,615,563,300 97.46% 12.79 26.34 15.77
2018 3,633,566,271 536,026,099 402,226,020 177,246,290 989,828,192 4,749,064,680 4,615,563,300 102.89% 12.42 25.86 15.58
2019 3,824,234,297 557,405,693 426,392,980 181,040,100 1,115,498,409 5,236,154,670 5,111,198,800 102.44% 12.40 25.77 15.52
2020 4,013,357,852 583,890,748 450,496,780 188,409,290 1,222,796,818 5,595,001,440 5,111,198,800 109.47% 12.23 25.42 15.31
2021 4,215,106,958 633,577,432 508,267,600 238,049,450 1,379,894,482 5,595,001,440 5,664,784,600 98.77% 12.20 24.29 15.18
2022 4,713,072,560 615,527,130 561,454,040 234,720,080 1,411,701,250 6,124,773,810 5,664,784,600 108.12% 11.35 24.18 14.31
Commercial Value as % of Total Value
26.0%
24.0%
22.0%
20.0%
18.0%
16.0%
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Source: Official Statements, State Division of Local Services
Note: All property in the Commonwealth of Massachusetts is assessed at 100% of full and fair cash value. The State estimates this "equalized valuation" for all municipalities every two years.
Chapter 59, Section 21C of the Massachusetts General Laws, known as "Proposition 2 1/2", imposes 2 separate limits on the annual tax levy of the Town. The primary limitation is
that the tax levy cannot exceed 2 1/2% of the full and fair cash value. The secondary limitation is that the tax levy cannot exceed the maximum levy limit for the preceding fiscal year
as determined by the State Commissioner of Revenue by more than 2 1/2%, subject to an exception for property added to the tax rolls and for certain valuation increases. This
secondary limit may be exceeded in any fiscal year by majority approval of the voters, however, it cannot exceed the primary limitation.
Town of Canton, Massachusetts Page 113 of 127 Annual Comprehensive Financial ReportSource page 122
DIRECT PROPERTY TAX RATES
LAST TEN FISCAL YEARS
Tax Rates (1)
Commercial Personal
Fiscal Residential and Industrial Property Direct
Year Tax Rate Tax Rate Tax Rate Tax Rate
2013 $ 12.30 $ 24.99 $ 24.99 $ 15.15
2014 12.87 26.53 26.53 16.08
2015 12.82 26.36 26.36 15.88
2016 12.79 26.36 26.36 15.78
2017 12.79 26.34 26.34 15.77
2018 12.42 25.86 25.86 15.58
2019 12.40 25.77 25.77 14.79
2020 12.23 25.42 25.42 14.33
2021 12.20 24.29 24.29 15.18
2022 11.35 24.18 24.18 14.31
(1) Rates are applicable to each $1,000 of assessed value.
(2) Calculated by dividing the total tax levy by total assessed value multipied by 1,000
Source: Official Statements
Town of Canton, Massachusetts Page 114 of 127 Annual Comprehensive Financial ReportSource page 123
PRINCIPAL TAXPAYERS
CURRENT YEAR AND NINE YEARS AGO
2022 2013
Percentage of Percentage of
Total Taxable Total Taxable
Nature of Assessed Assessed Assessed Assessed
Taxpayer Business Valuation Rank Value Valuation Rank Value
Eversource (formerly NSTAR) Utility $ 107,222,780 1 1.75% $ 46,716,920 1 1.18%
Tufts Associated Health * Offices 78,699,400 2 1.28%
BREIT MF Blue Hills LLC Apartments 61,410,000 3 1.00%
BAC Canton Holdings LLC (formerly
One Beacon Insurance) Offices 58,790,500 4 0.96% 36,382,900 3 0.92%
Medical Information Tech., Inc. Offices 50,900,000 5 0.83% 33,934,200 4 0.85%
Simons Waterfall LLC Apartments 43,779,500 6 0.71%
BOS Apt 2 LLC Apartments 41,611,500 7 0.68%
Boston Mutual Bldg Realty Trust Offices 38,794,750 8 0.63% 16,470,700 8 0.41%
OCW Retail Canton LLC (formerly
Canton Village Shoppes) Retail 37,371,700 9 0.61% 28,539,400 5 0.72%
Woodfield Properties Apartments 33,033,200 10 0.54%
Reebok Offices 39,983,400 2 1.01%
250 Royall LLC Offices 23,428,800 6 0.59%
Verizon Utility 21,650,400 7 0.55%
Spirit Canton LLC Offices 16,367,100 9 0.41%
Dan Road LLC Offices 13,000,000 10 0.33%
Totals $ 551,613,330 9.01% $ 276,473,820 6.96%
* Exempt from property tax in fiscal year 2022 but is subject to a $1.6 million payment in lieu of taxes.
Source: Official Statements
Town of Canton, Massachusetts Page 115 of 127 Annual Comprehensive Financial ReportSource page 124
PROPERTY TAX LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS
Tax Levy Collections
Percent of
Less First Year Percent of Delinquent Total Total Tax
Fiscal Total Abatements & Net Current Net Levy Tax Tax Collections to
Year Tax Levy Exemptions Tax Levy Tax Collections Collected Collections Collections Net Tax Levy
2013 $ 60,155,267 $ 637,338 $ 59,517,929 $ 58,747,142 98.70% $ 338,628 $ 59,085,770 99.27%
2014 62,465,167 920,724 61,544,443 61,056,268 99.21% 251,763 61,308,031 99.62%
2015 64,629,621 753,677 63,875,944 63,380,847 99.22% 341,165 63,722,012 99.76%
2016 68,196,330 729,299 67,467,031 66,960,492 99.25% 352,125 67,312,617 99.77%
2017 70,946,770 533,230 70,413,540 69,940,713 99.33% 262,970 70,203,683 99.70%
2018 73,975,682 988,362 72,987,320 72,812,949 99.76% (13,990) (1) 72,798,959 99.74%
2019 77,438,400 1,046,939 76,391,461 76,374,966 99.98% (227,037) (1) 76,147,929 99.68%
2020 80,166,862 1,053,864 79,112,998 77,780,712 98.32% 1,021,347 78,802,059 99.61%
2021 84,941,942 411,428 84,530,514 83,773,978 99.11% 499,031 84,273,009 99.70%
2022 87,628,310 266,471 87,361,839 86,417,107 98.92% - 86,417,107 98.92%
(1) In 2020 and 2022, the Town refunded several commercial tax collections.
Source: Accounting Records
Town of Canton, Massachusetts Page 116 of 127 Annual Comprehensive Financial ReportSource page 125
RATIOS OF OUTSTANDING DEBT BY TYPE
LAST TEN FISCAL YEARS
Governmental Activities Business-type Activities
General Direct General Direct Total Percentage Debt
Fiscal Obligation Borrowings and Lease Obligation Borrowings and Outstanding Personal of Personal U.S Census Per
Year Bonds (1) Placements Obligations Bonds (1) Placements Debt Income Income Population Capita
2013 $ 40,010,850 $ - $ 25,634 $ 24,947,875 $ 4,212,885 $ 69,197,244 $ 969,066,640 7.14% 20,708 $ 3,342
2014 31,039,890 - 13,022 25,562,439 5,618,255 62,233,606 996,466,795 6.25% 21,932 2,838
2015 29,331,327 335,000 104,250 24,633,842 5,141,590 59,546,009 1,049,031,660 5.68% 22,276 2,673
2016 26,426,780 321,226 84,246 22,970,109 4,661,625 54,463,986 1,084,774,372 5.02% 22,510 2,420
2017 28,000,477 307,176 63,827 23,466,201 4,178,293 56,015,974 1,113,918,949 5.03% 22,551 2,484
2018 25,868,216 292,843 42,986 21,261,941 3,691,526 51,157,512 1,155,234,618 4.43% 22,817 2,242
2019 26,215,007 278,222 21,713 19,095,011 3,201,255 48,811,208 1,216,654,398 4.01% 23,444 2,082
2020 30,693,449 263,306 - 21,056,912 2,820,709 54,834,376 1,278,189,014 4.29% 24,029 2,282
2021 26,826,930 248,091 - 19,843,867 5,104,665 52,023,553 1,310,143,739 3.97% 24,029 2,165
2022 29,410,352 240,369 - 26,513,203 5,651,523 61,815,447 1,342,897,332 4.60% 24,029 2,573
Source: U. S. Census, State Division of Local Services
(1) Presented net of original issuance discounts and premiums.
Town of Canton, Massachusetts Page 117 of 127 Annual Comprehensive Financial ReportSource page 126
RATIOS OF GENERAL BONDED DEBT OUTSTANDING
LAST TEN FISCAL YEARS
General Less: Percentage Debt
Fiscal Obligation Amounts Assessed of Assessed U.S Census Per
Year Bonds (1) Available (2) Total Value Value Population Capita
2013 $ 64,958,725 $ (7,260,823) $ 57,697,902 $ 3,971,663,460 1.45% 20,708 $ 2,786
2014 56,602,329 (2,860,353) 53,741,976 3,884,619,110 1.38% 21,932 2,450
2015 53,965,169 (2,499,064) 51,466,105 4,069,871,500 1.26% 22,276 2,310
2016 49,396,889 (2,125,785) 47,271,104 4,320,712,330 1.09% 22,510 2,100
2017 51,466,678 (1,740,116) 49,726,562 4,498,404,880 1.11% 22,551 2,205
2018 47,130,157 (1,341,647) 45,788,510 4,749,064,680 0.96% 22,817 2,007
2019 45,310,018 (929,952) 44,380,066 5,236,154,670 0.85% 23,444 1,893
2020 51,750,361 (504,594) 51,245,767 5,595,001,440 0.92% 24,029 2,133
2021 46,670,797 (65,119) 46,605,678 5,595,001,440 0.83% 24,029 1,940
2022 55,923,555 (33,089) 55,890,466 6,124,773,810 0.91% 24,029 2,326
Source: U. S. Census, State Division of Local Services
(1) General obligation bonds consist of debt of both governmental and business-type activities, net of original issuance discounts and premiums.
(2) These are restricted resources from the Massachusetts School Building Authority for debt principal on school construction.
Town of Canton, Massachusetts Page 118 of 127 Annual Comprehensive Financial ReportSource page 127
COMPUTATION OF LEGAL DEBT MARGIN
LAST TEN FISCAL YEARS
(Amounts in Thousands)
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Equalized Valuation…………………………………..
$ 4,131,231 $ 4,131,231 $ 4,083,658 $ 4,083,658 $ 4,615,563 $ 4,615,563 $ 5,111,199 $ 5,111,199 $ 5,664,785 $ 5,664,785
Debt Limit…………………………..…………………. 206,562 206,562 204,183 204,183 230,778 230,778 255,560 255,560 283,239 283,239
Outstanding general obligation bonds………………. 64,959 56,602 53,965 49,397 51,467 47,130 45,310 51,750 46,671 55,924
Authorized and unissued debt…………………………. 10,144 6,547 22,881 16,695 15,992 20,072 29,086 24,704 25,932 16,910
Debt not applicable to debt limit………………………….(30,364) (31,263) (30,212) (28,533) (28,457) (25,574) (24,193) (22,651) (22,776) (31,126)
Legal debt margin…………………………………………..
$ 161,823 $ 174,676 $ 157,549 $ 166,624 $ 191,776 $ 189,150 $ 205,357 $ 201,757 $ 233,412 $ 241,531
Total debt applicable to the limit
as a percentage of debt limit…………………………………..
21.66% 15.44% 22.84% 18.39% 16.90% 18.04% 19.64% 21.05% 17.59% 14.73%
Source: State Division of Local Services, Accounting Records
Town of Canton, Massachusetts Page 119 of 127 Annual Comprehensive Financial ReportSource page 128
DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT
AS OF JUNE 30, 2022
Estimated
Estimated Share of
Debt Percentage Overlapping
Outstanding (a) Applicable Debt
Debt repaid with property taxes:
Norfolk County…………………………………………………….. $ 14,845,000 3.68% (b) $ 546,296
Blue Hills Regional Vocational School District……………………………………………………..
34,995,000 7.39% (c) 2,586,131
Subtotal, overlapping debt………………………………………………………………………….. 3,132,427
Town direct debt……………………………………………………………. 29,650,721
Total direct and overlapping debt…………………………………………… $ 32,783,148
(a) Outstanding debt as of March 22, 2022.
(b) Based on the Town's weighted percentage of total equalized valuation.
(c) Based on the District's enabling agreement which primarily relies on enrollment.
Source: Official Statements, Accounting Records
Town of Canton, Massachusetts Page 120 of 127 Annual Comprehensive Financial ReportSource page 129
DEMOGRAPHIC AND ECONOMIC STATISTICS
LAST TEN FISCAL YEARS
Per
Capita
Fiscal Population Personal Personal Median School Unemployment
Year Estimates Income Income Age Enrollment Rate (a)
2013 20,708 $ 969,066,640 $ 46,797 42.6 3,312 5.50%
2014 21,932 996,466,795 45,434 42.6 3,321 5.20%
2015 22,276 1,049,031,660 47,092 42.6 3,385 4.20%
2016 22,510 1,084,774,372 48,191 42.6 3,375 3.40%
2017 22,551 1,113,918,949 49,396 42.6 3,379 3.60%
2018 22,817 1,155,234,618 50,630 42.6 3,353 3.00%
2019 23,444 1,216,654,398 51,896 42.6 3,329 2.60%
2020 24,029 1,278,189,014 53,194 42.6 3,397 8.00%
2021 24,029 1,310,143,739 54,523 42.6 3,225 6.00%
2022 24,029 1,342,897,332 55,887 42.6 3,228 4.30%
(a) Full year averages except for 2021 which is for February 2021.
Source: U. S. Census, Division of Local Services, Massachusetts
Department of Elementary and Secondary Education
Median age is based on most recent census data
Town of Canton, Massachusetts Page 121 of 127 Annual Comprehensive Financial ReportSource page 130
PRINCIPAL EMPLOYERS (EXCLUDING TOWN)
CURRENT YEAR AND NINE YEARS AGO
2022 2013
Nature Percentage Percentage
of of Total Town of Total Town
Employer Business Employees Rank Employment Employees Rank Employment
Dunkin Brands, Inc. Food and Beverages 633 1 3.17% 600 5 2.85%
ComputerShare Operations Center 540 2 2.70% 778 4 3.70%
Meditech Hospital Software 504 3 2.52% 820 2 3.90%
Destination XL Group (Casual Male) Retail/Wholesale 446 4 2.23%
FIS Global Financial Services 350 5 1.75%
Stoneridge Control Devices (Pollak) Automotive Engineering 255 6 1.28% 279 8 1.33%
Boston Mutual Inurance Insurance Sales and Service 229 7 1.15% 245 9 1.16%
Pappas Rehablitation Hospital Pediatric Hospital 220 8 1.10%
Gray, Gray and Gray LLP Accounting 107 9 0.54%
Bank of Canton Banking 104 10 0.52%
Reebok International Footwear 1,069 1 5.08%
Shaw Group Engineering 800 3 3.80%
One Beacon Insurance Insurance Sales and Service 285 7 1.35%
Organogenesis Regenerative Medicine 354 6 1.68%
Lojack Recovery Systems 240 10 1.14%
Totals 3,388 16.94% 5,470 24.84%
Source: Official Statements
Town of Canton, Massachusetts Page 122 of 127 Annual Comprehensive Financial ReportSource page 131
FULL-TIME EQUIVALENT TOWN EMPLOYEES BY FUNCTION
LAST TEN FISCAL YEARS
Function 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
General government…………………………………………………………….
27 26 26 24 27 26 27 32 37 29
Public safety…………………………………………….. 104 103 99 101 103 103 105 108 108 100
Education…………………………………………………… 423 440 426 443 474 503 483 483 483 499
Public works……………………………………………………………..
43 46 43 43 42 43 46 46 46 50
Health and human services…………………………………………………………..
9 9 9 10 9 10 11 11 11 11
Culture and recreation…………………………………………………
22 23 24 22 24 24 24 24 24 22
Total Town employees…………….…………………...……..
628 647 627 643 679 709 696 704 709 711
Source: Town personnel records
Town of Canton, Massachusetts Page 123 of 127 Annual Comprehensive Financial ReportSource page 132
OPERATING INDICATORS BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS
Function 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
General Government:
Population…………………………………….. 20,708 20,853 20,717 20,878 21,443 20,985 21,429 21,618 21,949 22,479
Registered voters…………………………………….. 14,241 14,467 14,734 14,984 15,694 15,877 16,482 16,247 17,589 18,137
Public Safety:
Police
Criminal offenses……………………………………………… 909 464 384 945 1,076 862 657 615 961 1,084
Fire
Fire calls……………………………………………….. 1,242 1,500 1,800 1,683 1,638 2,013 1,929 1,556 1,708 2,017
Ambulance calls…………………………………………2,250 2,600 2,100 2,525 2,457 2,278 2,371 2,354 2,678 2,839
Permits issued………………………………………………. 949 1,380 1,005 745 857 976 725 658 866 985
Building Department
Building permits issued…………………………………. 905 894 1,132 1,514 1,271 1,093 1,196 1,093 1,649 1,458
Other permits issued…………………………………. 1,670 2,062 2,030 1,885 1,951 1,753 1,712 1,506 1,599 1,565
Education:
Number of students…………………………………. 3,262 3,338 3,427 3,378 3,379 3,353 3,329 3,397 3,316 3,228
Public Works:
Highway
Roads paved (miles)……………………………………………… 0.8 1.7 3.6 2.5 3.1 4.2 3.4 3.0 2.2 20.0
Water
Water mains installed (miles)…………………………… 1.8 2.0 0.0 0.0 2.5 0.0 0.0 0.0 3.1 2.6
Sewer
Sanitary sewers installed (miles)……………………………0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Health and Human Services:
Board of Health
Inspections and complaint investigations……… 661 680 673 652 925 760 714 500 400 586
Permits issued……………………………………………….. 645 647 641 644 644 652 575 329 336 336
Council on Aging
Bus trips………………………………………….. 9,825 8,500 7,863 8,200 10,180 8,830 11,369 8,029 3,000 7,124
Culture and Recreation:
Libaries
Circulation…………………………………………….315,297 294,718 301,191 269,045 287,981 258,961 168,304 220,831 201,383 257,274
Children's programs held…………………………………………….132 132 132 241 197 328 53 257 644 176
Children's programs attendance…………………………………………….
3,550 3,004 3,004 3,985 3,898 6,935 1,345 6,393 88,161 4,486
Recreation
Swimming pool attendance…………………………………………….
(1) 9,600 9,426 4,446 6,056 5,107 4,778 4,994 - 7,568 7,965
Playground program participants…………………………………………….
1,400 812 1,008 1,294 1,090 1,016 768 580 600 658
(1) Pool was closed for major renovations in fiscal year 2020.
N/A - Information not available
Source: Various Town Departments and State websites.
Town of Canton, Massachusetts Page 124 of 127 Annual Comprehensive Financial ReportSource page 133
CAPITAL ASSET STATISTICS BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS
Function 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
General Government:
Number of buildings……………………………….. 1 1 1 1 1 1 1 1 1 1
Public Safety:
Police
Number of stations……………………………. 1 1 1 1 1 1 1 1 1 1
Fire
Number of stations……………………………. 2 2 2 2 2 2 2 2 2 2
Education:
Number of elementary schools…………………………………….
3 3 3 3 3 3 3 3 3 3
Number of middle schools…………………………………….1 1 1 1 1 1 1 1 1 1
Number of high schools………………………………………..1 1 1 1 1 1 1 1 1 1
Public Works:
Road miles………………………………………. 112 112 112 112 112 112 112 112 112 112
Water main (miles)…………………………………………. 123 123 123 123 123 123 123 123 123 123
Sanitary sewers (miles)…………………………………………. 82 82 82 82 82 82 82 82 82 82
Number of water towers…………………….. 5 5 5 5 5 5 5 5 5 5
Number of water treatment plants…………………….. 2 2 2 2 2 2 2 2 2 2
Health and Human Services:
Number of senior centers…………………….. - - - 1 1 1 1 1 1 1
Culture and Recreation:
Number of libraries……………………………………………
1 1 1 1 1 1 1 1 1 1
Number of pools………………………………….. 1 1 1 1 1 1 1 1 1 1
Number of skating rinks……………………(1) 1 1 1 - - - - - 1 1
(1) Skating rink was closed from 2015 to 2020 due to damage from major weather event.
N/A - Information not available
Source: Various Town Departments and State websites.
Town of Canton, Massachusetts Page 125 of 127 Annual Comprehensive Financial ReportSource page 134
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