NORTHAMPTON, Mass. (WWLP) – Property taxes are set to rise for many homeowners throughout the Pioneer Valley.
Northampton is one of those places where people will be paying more next year. 22News spoke to the chairman of the Board of Assessors about what’s causing this.
It’s been a unique year for real estate across the country and right here in western Massachusetts. In the most recent report from the Realtor Association of Pioneer Valley sales are down 39.8 percent in Hampshire County, but the median sale price is up over 9 percent. With prices up over 12 percent in Northampton, it’s a main reason residents in the city will likely see their tax bills go up by about $500 on average next year.
“The levy went up which is why the taxes are going up but the values are also up which is why the tax rate went down, which can be very confusing to figure out but the values are up quite a bit, the levy is up a little bit, but your tax bill will go up somewhat,” said David Murphy, Chairman of the Board of Assessors for Northampton.
On the surface level, property taxes going up might only seem like bad news for residents but with the value of single family homes rising as much as they have, it should be a welcome sight for homeowners.
“In spite of the fact that there are fewer homes selling, the ones that are selling went up in value and went up pretty considerably again this year,” said Murphy.
It’s been a theme throughout western Massachusetts, in all of Hampden, Hampshire, and Franklin Counties, sales are down but prices are up. Another example of a town where property taxes will go up is in Amherst, where the average homeowner will be paying about $375 more next year.
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