In discussions with 22News, the chairman shed light on the factors contributing to this impending Northampton County Property Tax rise.
Northampton County property tax is poised to escalate for homeowners across the Pioneer Valley, including Northampton, as revealed by the chairman of the Board of Assessors
The real estate landscape has undergone a distinct shift this year, both nationwide and specifically in western Massachusetts. The most recent report from the Realtor Association of Pioneer Valley highlights a 39.8 percent decline in sales in Hampshire County, juxtaposed with a notable 9 percent surge in the median sale price. Notably, Northampton has experienced a staggering 12 percent increase in property prices, signaling an anticipated average Northampton County Property Tax hike of approximately $500 for city residents next year.
David Murphy, Chairman of the Board of Assessors for Northampton, untangled the complexities behind this increase
He elucidated that while the levy has increased, leading to higher taxes, the Northampton County Property Tax rate has decreased owing to the significant surge in property values. Murphy acknowledged the potential confusion arising from this shift but emphasized the substantial rise in property values as the primary catalyst for the anticipated surge in Northampton County Property Tax bills.
While a rise in Northampton County Property Taxes might initially appear unfavorable, the significant uptick in the value of single-family homes should be seen as a positive development for homeowners. Murphy highlighted that despite a decrease in home sales, the properties being sold have experienced substantial value increments this year.
Leave a Reply