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The And Its Effects On The Community

Decent Essays

Wellesley has been known as a well to do community with good school systems. The neighboring communities such as Weston, Wayland, and Needham are also comparable in terms of real estate values and excellent educational systems. However, in Wellesley, there has been a rapid change in landscapes throughout the town due to what is described as a demolition haven. Although the culprit of the recent high-end building boom is unclear, new constructions replaced by the teardown act are popping up to be transformed into mansion size houses. What is Wellesley trying to compete against? What impacts do they impose on seniors who are retiring or have retired? Many old houses have their inconveniences but have characters which have painted a part of beautiful Wellesley scenery. The recycled properties increase the value of the houses on the street, which in turn increases the property tax bill due to increased assessed values. It resembles a domino effect. Many elderly people are trying hard to stand firm on their feet to avoid being knocked over, but controlling their environment is nearly impossible and seeing annual updated assessed property values with increased appreciation may only be described as a nightmare. Proposition 2 ½ (MGL Chapter 580 of the Acts of 1980), also known as Property Tax Levy or levy, is a Massachusetts law passed by ballot vote in November of 1980. Its purpose is to limit the amount of money city or town can raise from property taxes. There are three

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