The Massachusetts School Building Authority is reimbursing Marblehead taxpayers a whopping $641,031 for the Brown School construction after the project came in under-budget.
The reimbursement is part of the total MSBA grant of $13,866,171 awarded for the Brown School project.
“As a direct result of this reimbursement, the Brown School construction debt service payments will be reduced annually by $42,735.40, providing taxpayers with a modest reduction in their tax bill,” Marblehead Finance Director Aleesha Benjamin told the Current. “Specifically, the median residential tax bill will see a decrease of approximately $4.59 annually, while the average single-family tax bill will experience savings of $5.84 per year.
Benjamin added: “In a further demonstration of fiscal prudence and forward-thinking collaboration, the town and the school department will be rescinding $1,619,627 in previously authorized but unissued debt at the 2026 annual Town Meeting. This highlights both the town and schools’ shared dedication to sound financial stewardship and ensuring that taxpayer dollars are managed effectively for the long-term benefit of Marblehead.”
