Order: That the City of Malden hold a Special Municipal Election on March 31, 2026 and to include the following ballot question: Shall the City of Malden be allowed to assess an additional $5,400,000 in real estate and personal property taxes for the purposes of stabilizing the City’s budget and to support ongoing city services across all departments, including public schools, public safety, public library, public works and general government, for which the monies will be used for the fiscal year beginning July 1, 2026? A yes vote would support an increase in real estate and personal property taxes beginning with fiscal year 2027 (7/1/26 to 6/30/27). A no vote would make no change to the current tax structure.

The City of Malden will hold a Special Municipal Election on March 31, 2026, to vote on two Proposition 2 ½ override questions, effective for the fiscal year beginning July 1, 2026 (FY2027). If both pass, the question with the higher dollar amount will prevail.

Option 1A: $5,400,000 Increase
This option seeks an additional $5.4 million in real estate and personal property taxes to stabilize the City's budget and support ongoing city services across all departments, including public schools, public safety, public library, public works, and general government. A 'yes' vote would lead to an estimated $353 annual increase for an average household (valued at $666,000). Without this, the Finance Committee projects at least $2 million in cuts and 10-20 staff layoffs.

Option 1B: $7,000,000 Increase
This option requests an additional $7.0 million for budget stabilization and ongoing city services, specifically including increased funding required by law for the public schools (addressing a $1.6 million Net School Spending deficit). A 'yes' vote would result in an estimated $532 annual increase for an average household. This option aims to continue current operations without requiring layoffs to balance the budget.

Context and Impact:
The city faces a structural deficit. Without any override, serious cuts across all city services and 50-60 staff layoffs are anticipated. Malden has implemented cost-saving measures, including a shift to the state-run Group Insurance Commission healthcare pool (projected $1.5M-$3M savings from FY2027) and restructured pension payments (saving $800K annually). An increase in the residential exemption will separately save homeowners $291 for FY27.