What is proposition 2 1/2?

Proposition 2 ½ places constraints on the amount of taxes which the Town can levy and on how much the tax levy can be increased from year to year by the Town. It provides the Town with annual increases in its tax levy of 2.5% plus an additional amount based on the valuation of certain new construction and other allowable growth in the tax base (new growth).

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1. How is your assessment determined?
2. How can my taxes increase?
3. What if I disagree with the assessment of my property?
4. What is proposition 2 1/2?