This is correct but its actually quite a bit more complex than this. MA's CH70, state law around education funding, means a municipality is legaly required to fund schools at an amount determined by a standard equation. And Proposition 2.5 means the municipal levy (overall property taxes) can only grow by 2.5% YOY.

Services, like education costs, consistently grow far faster than 2.5% every year, but really the cost of most municipal services grow more than 2.5%/yr. Some of this can be mitigated with development, as that can add to the tax base further. But the typical effect of these state laws, in lower density suburbs particularly, is that services like roads and infrastructure must be perpetually scaled back over time as the school budget eats up a larger and larger percentage of the overall budget, or in wealthier towns they have periodic override votes, see tax increases, to mitigate this legislative inconsistency.