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Springfield City Council adopts residential tax factor, approves $3 million free‑cash transfer
Summary
After weeks of committee work, the Springfield City Council voted to adopt a residential tax factor of 0.7874—setting a $15.46 residential rate—and approved a $3,000,000 transfer from certified FY25 free cash to temper this year’s tax increase.
The Springfield City Council voted to adopt a residential tax factor of 0.7874 on a roll call that carried the necessary majority, setting the residential tax rate at $15.46 and the commercial/industrial/personal property rate at $34.35. Councilor Allen moved the measure and Councilor Davila seconded it; the council adopted the factor after extended debate over budget priorities and the impact on residents.
The council also approved a related series of transfers intended to blunt this year’s property tax increase, including a $3,000,000 move from certified FY25 free cash into estimated FY26 revenues. Kathy Buono, the city’s chief administrative and financial officer, told the council the free‑cash certification was $18,600,000 and noted that $2,000,000 comes from interest earned on a prior $45,000,000 stabilization investment.
Counc…
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