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Assessors brief council: $7.3M new growth led by utilities and personal property; HERO Act doubles veteran exemptions but state reimbursements unchanged
Summary
City staff told the council that Springfield recorded just over $7.3 million in new growth for FY26—56% from personal property—driven largely by utilities and a few commercial projects; the HERO Act doubled veteran exemptions but state reimbursement did not increase, and the mayor committed $1,000,000 in free cash toward targeted relief.
City staff presented valuation, new-growth and exemption data to the Springfield City Council on Nov. 24 as part of pre-vote briefings on the tax levy and proposed tax rate.
Jessica (assessor's office staff presenting slides) said Springfield has approximately 45,979 taxable parcels and personal-property accounts. For fiscal 2026 the city reported just over $7.3 million in new growth: 56% attributable to personal property, 18% residential and 26% commercial/industrial. Jessica told the council utilities—"like Eversource"—and updates to outmoded infrastructure account for much of the personal-property…
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