SOUTHWICK – With property values increasing more slowly after the hot real estate market cooled, the city’s tax rate on commercial and residential properties will increase in fiscal year 2025, from $15.47 per $1,000 of property value to $15.57, which is the first rate increase in three years. .
“Property values did not increase as much as in previous years,” Chief Administrative Officer Nicole Parker said of the 2.4 percent rate increase.
With that rate, most city ratepayers should see only a slight increase in their bills, which will be sent out in the coming weeks, said Cindy DeMay, a senior clerk in the assessor’s office.