Holyoke assessors present FY24 property values; residents and taxpayers urge business growth and relief

The Holyoke City assessor’s office presented Fiscal Year 2024 property valuations and tax-rate options at a tax classification hearing on Oct. 26, saying overall values and new growth increased and offering the City Council a range of levy and rate scenarios.

Assessor Debbie Burnell said residential values rose about 4.4% from the prior year, commercial values rose about 3.2%, industrial about 6% and personal property about 11.9%. She said the office’s compiled data are submitted to and approved by the Massachusetts Department of Revenue before the classification hearing can proceed.

The assessor said the city’s fiscal-year levy limit is about $64.8 million and that the auditor and mayor’s budget work produced a lower figure the office used for calculations (about $63.6 million). Burnell presented single-rate illustrations that included $24.44 per $1,000 of valuation based on a $64 million levy and $23.88 per $1,000 using the recap levy figure in the packet. She also noted illustrative average tax bills and class-specific averages the council received in its packet.

Speakers during public comment pressed the…