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The committee found that available data showed consistently positive fiscal impacts for potential hotel development, although the size of the benefit varied by project scale and assumptions.
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Members reviewed draft fiscal analyses for the Belmont Center Overlay District and a proposed hotel by-law. The analyses weigh potential property tax, motor vehicle excise, and hotel occupancy tax revenue against municipal service and education costs. The reports are not final; members were asked to submit comments, clarify assumptions, and avoid presenting estimates as exact predictions. Preliminary FY27 budget materials will be delayed until health insurance figures are available, with final budgets anticipated in mid-March.
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