GREENFIELD — The state Department of Revenue has approved the city’s fiscal year 2021 single tax rate at $23.22 per $1,000 valuation, an increase of 29 cents over last fiscal year’s rate.
“A Greenfield property assessed at $180,000 will see an annual tax increase of $52.20,” said Assessor Kimberly Mew, providing an example.
The increase is attributed, she said, to an increase of $46.5 million in the assessed value of real and personal property, known as Equalized Value (EQV), over last year. In addition, the city did not use $1.64 million in available tax levy in appropriating this year’s operating budget.
The tax levy is determined by subtracting the city’s revenues from its budget, Mew explained. To determine the tax rate, the city divides the tax levy by the total taxable assessed value of all properties.
A press release from the Mayor’s Office states the annual calculation of the tax rate is a multifaceted process that involves state officials, City Council, the Greenfield Board of Assessors, the assessor, the treasurer, the city clerk, the city accountant and the director of municipal finance.
Reach Anita Fritz at 413-772-9591 or afritz@recorder.com.