Stephanie O'Keeffe says...

"No more overrides." Sounds good, doesn't it? It has the same kind of ad populem appeal as “No new taxes” or capping property tax increases at 2.5%.

Or those Nigerian bank scams.

Amherst is in this lousy financial position because fixed costs are rising at a rate higher than the rate at which property taxes can increase under Proposition 2 ½. And our aid from the State is considerably lower than it had been at the beginning of this decade, one of the repercussions of reducing the State income tax rate. Costs beyond our control are higher, while revenues beyond our control are lower. It is that simple. Running our community is more expensive this year than it was last year, and next year is worse. Something's gotta give.

More:
http://www.inamherst.com/2007/04/vote_yes_on_may_1st.html