GREENFIELD — At a rate of $20.39 per $1,000 valuation, the tax rate for fiscal year 2024 increased by 3.7% over fiscal year 2023’s tax rate of $19.65.
The new rate will be reflected in this month’s tax bills, according to Chief Assessor Randall Austin.
“Property values rose again this year as the activity in the market continues to increase,” Austin said. “Single-family, two-family, condominiums and commercial properties were all closely studied and adjusted to keep up with the current activity.”
In an interview, Mayor Ginny Desorgher said valuations, particularly for condominiums and homeowners, “increased astronomically.”
According to Austin’s presentation to City Council in November, given these updated valuations, the average tax bill for a single-family home will increase by roughly 10.9% compared to last year, 18.5% for condominiums, 12.97% for two-family homes and 11.4% for commercial/industrial properties.
The average tax bill for a single-family home, for example, will increase from $5,075 in FY23 to $5,630 in FY24. The value of an average single-family home increased from $258,317 in FY23 to $276,258 in FY24.
City Council voted in November to maintain a single tax rate for FY24. Councilors also rejected the adoption of either a residential or a small commercial exemption.
The vote followed a brief discussion between councilors and city officials about whether there was any rationale for returning to a split tax rate, which would reduce the share of the tax levy on residential properties compared to commercial or industrial properties, and if any consideration had been given to a residential exemption.
“I don’t see the overall benefit [of a split tax rate] at this time,” said Precinct 9 Councilor Derek Helie. “It will deter businesses from coming to Greenfield. People do not want to pay more taxes to come to town. They want tax breaks.”
Reporter Mary Byrne can be reached at mbyrne@recorder.com or 413-930-4429. Twitter (X): @MaryEByrne.