City Manager Joseph A. DeGuglielmo will make an important announcement today at 5 p.m. concerning the tax rate for Cambridge. Sources close to DeGuglielmo said yesterday that the tax rate would probably go up--but the question is how much, and nobody seems to know that answer.
The city's books currently indicate a $3 million deficit, and rough estimates show that the tax hike will be in the neighborhood of $6 to $82 per $1,000 assessed value.
Some estimates of the increase have been as high as $10 per $1000. The present city tax rate of $76.90 per $1000 has been in force since the spring of 1966, when it was raised from $72.
The $3 million deficit in the City budget resulted in part from increased salaries for city employees and new construction underway in Cambridge.
The City Manager was expected to announce the new tax rate yesterday, but a late estimate from the City Assessor's Office has delayed any statement.
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