New Property Tax Rates Set In Springfield
The tax bill for most property owners in Massachusetts’ third largest city will be going up next year
The Springfield City Council voted to keep the residential property tax rate unchanged for fiscal year 2014 at $19.71 per $1,000 valuation. But, the tax bill on the average single family home in Springfield will go up by $91 because, for the first time in several years, property values have increased, according to Richard Allen, Chairman of the Board of Assessors.
" That's great news that the residential market has reversed direction. Selling prices are higher than a year or two ago, more houses are selling."
Tax bills for businesses will go up —most by less than $50—as a result of a higher tax rate on commercial and industrial property.