Population Figures, Equalized Valuations, and Cherry Sheets
Population figures and equalized valuations (EQV's) are used to calculate the award amounts in the State Aid to Public Libraries program that are provided to the Massachusetts Department of Revenue for the Cherry Sheets.
The Massachusetts Department of Revenue Division of Local Services' uses Census Bureau population estimates to allocate local aid and determine municipal assessments and charges. Population estimates are used in the allocation of local aid distributed through the Lottery formula and Aid to Public Libraries formula.
Equalized Valuations (EQV's)
Equalized Valuations are an estimate of the FFCV (Full and Fair Cash Value) of all property in the Commonwealth as of a certain taxable date. The Commissioner of Revenue, in accordance with MGL Ch. 58 (Generalized Provisions Relative to Taxation) § I OC, is responsible for determining an equalized valuation for each city and town in the Commonwealth biannually.
Named for the cherry colored paper on which it was originally printed, the Cherry Sheet is the official notification by the Commissioner of Revenue to municipalities and regional school districts of estimated state aid to be paid and charges to be assessed over the next fiscal year. Cherry Sheets are usually issued each spring, following enactment by the Legislature of the state budget for the following year.
For more information, please contact Mary Rose Quinn at x220 or Liz Babbitt at x227.