Voters will go to the polls today and determine the financial future of Wareham by answering the following question: "Shall the Town of Wareham be allowed to assess an additional $4.5 million in real estate and personal property taxes for purposes of funding town and school operating expenses and capital expenses for the fiscal year beginning July 1, 2014 - yes or no?"

The polls will be open from 8 a.m. to 8 p.m. at the following locations:

Precinct One: Memorial Town Hall, 54 Marion Road in Wareham

Precinct Two: Ethel E. Hammond School, 13 Highland Ave. in Onset

Precinct Three and Six: Minot Forest School, 63 Minot Ave. in East Wareham

Precinct Four and Five: Decas School, 760 Main St., in West Wareham

Voters at April's Spring Town Meeting passed both a balanced budget and a contingent budget that would be enacted if voters pass a Proposition 2 1/2 override today.

Proponents of the contingent budget say it is needed to stabilize the town's finances and invest in the future of a healthy, functioning town.

The budget provides funding for the library, the council on aging and funds many programs and positions in school and town departments. The contingent budget for 2015 as well as the balanced budget and the five-year plan for spending the money can be seen here.

Opponents say many people in town cannot afford a tax increase and that the town needs to operate with whatever revenue it takes in.

The balanced budget, making use of only the property tax revenue that can be raised within the confines of tax-limiting Proposition 2 1/2, makes deep cuts in town services, lays off 45 employees and eliminates nearly all funding to the library and Council on Aging.

At a joint meeting in March, Town Administrator Derek Sullivan said most of the budget cuts in previous years have come from staff reductions, and without an override the town would still need to make millions of dollars in cuts year after year.

"I'd be interested to see over the next four or five years where people could locate $1.5 to $2 million in salary cuts and see the town and schools still function," he said.

"I was hopeful every single year we'd be able to whittle a little away here and there and get away with it. But we just can't do that anymore," said Selectman Peter Teitelbaum. "I don't even know about next year, where do we cut?"