HOLYOKE — City Assessor Anthony Dulude noted a 5% increase in single-family home values, as well as an expected $1.5 million increase in revenue, during an online City Council meeting Monday.
“It’s a new world we’re living in, and it’s a new world for all of us,” Dulude began the meeting.
The City Council must set residential and commercial property tax rates for the coming year, but it must wait on financial information from the state before proceeding.
The state-imposed levy limit, the amount in fees and revenues the city may collect, stands at $57.5 million. Last year, the levy limit was $54.7 million, and it was $53.9 million the prior year.
Dulude’s office assessed real and personal properties for fiscal 2021 at $2.3 billion, a $60 million gain in values compared to the previous year. Around $469 million worth of property is classified as tax-exempt or nontaxable.