Number of the Day: $116 million

October 17, 2012 | Number of The Day

The Governor’s Office says that it has saved an additional $116 million toward local property tax relief — beyond $261 million last year and $241 million the year before — by better management of the state pension funds. Much of the total savings were due to the package of bills that were supported on a bipartisan basis, which included a 2 percent cap on property taxes, ending the practice of cash payouts upon retirement, and the promotion of shared services.

For a list of the savings by each town and county go to the Treasury Department’s website.