SPRINGFIELD, Mass. (WWLP) – Mayor Domenic J. Sarno, announced his recommendation for Fiscal Year (FY) 2021 property tax rates.
The recommended rates are $18.90 for residential property and $39.23 for commercial, industrial, and personal property (CIP). This recommendation has been developed with the help of Chief Administrative and Financial Officer Timothy J. Plante, Chairman of the Board of Assessors Richie Allen and the Board of Assessors.
“My administration’s proposal in reducing the tax levy by $1 million and lowering the residential tax rate is to alleviate the pressure which our homeowners and residents are experiencing,” said Mayor Sarno.
The proposed rates will be sent to the City Council for consideration on Monday, December 7 at 5:30 p.m.
The residential rate reflects a decrease of $.63 and if approved by the City Council, it will be the lowest residential rate since FY09.
“We are all living in surreal and challenging times and everyone is experiencing some form of financial burden. This is always a difficult and delicate balancing act of recommending a fair tax rate to both our residents and our businesses. My administration is committed to providing relief and support while maintaining vital services to continue stimulating business development and jobs, while just as important being respectful to our homeowners,” said Mayor Sarno.
Mayor Sarno has directed the Office of A&F to provide this relief for taxpaying residents and businesses according to Chief Administrative and Financial Officer TJ Plante.
“The taxpayers will realize less of an increase in their bills as a result of this decision,” said Chairman of the Board of Assessors Richie Allen.
The Springfield Regional Chamber also supports Mayor Sarno’s recommendation for the City’s fiscal year 2021 property tax rate.
“We understand the Mayor’s need to provide tax relief to the City’s residents during these economically difficult times, but we appreciate the fact that the Mayor recognizes the challenges facing our business community as well. Our Springfield businesses have already had to absorb millions of dollars in unanticipated costs because of COVID-19, which have forced layoffs, furloughs, and business closures,” stated a press release by the Springfield Regional Chamber.
Mayor Sarno also reminds the public that homeowners that can be eligible for some tax relief are citizens of seventy years of age, widows, and widowers of any age, veterans of at least ten percent disability and blind people, all with assets below a certain level.