Board of Assessors Chairperson Laura Catalano gave the 11-member body a presentation on Pittsfield’s values heading into 2025.
“Most of our assessed values are up, with the exception of the vacant accessory land class – the 130-32, some 106s – and the decrease is primarily attributed parcel mergers and some demos of secondary structures of the 106s," she said. "Personal property has increased $17,987,690 and it's primarily in our 504 public utilities, and that is Berkshire Gas and Eversource. Our new growth, we have a total of $53,053,759 which equates to tax dollars of $1,872,514.”
She laid out how much the city would have to raise through taxes to pay its bills for the fiscal year.
“Our total amount to be raised is $232,299,670.99, the budget," said Catalano. "Add in our estimated receipts and other revenue, we have $117,978,659.79. That leaves us with a levy of $114,321,011.20.”
With that, she turned to the city’s recommendations for the fiscal year 2025 tax rate.
“For FY25, it's being proposed a residential factor of .8271, and a CIP shift of 1.75," said the chief assessor. "And what that pretty much means is residential is going to pick up 67.2%, and the remaining 32.7% will be brought forward by the Commercial Industrial Personal Property.”
In simpler terms:
“That puts us at a single tax rate of $21.69, a residential tax rate of $17.94, and a CIP of $37.96,” said Catalano.
The city council approved the use of $2.5 million in free cash during the budget process to offset the rates. Catalano explained the impact on the average single-family home in Pittsfield with a median value of around $295,000.
“It's an increase over 2024 of $354.51, and an increase weekly of $6.81," she said. "For the commercial, we use the median, and we have an increase of $135 and increase weekly of $2.59. So, this just reflects the average single-family value. And just to note of just the single families, 568 will see a decrease over their 2024 taxes. 1,687 will see an increase of less than $100. 3,777 will see an increase less than the average, and 5,294 will see an increase over the average.”
Catalano explained to the council that while the city’s tax rate is technically dropping, rising property values means not everyone will see a decrease.
“Our tax rate is lower," she said. "Last year was $18.45, this year, $17.94 for residential. So, it is lower, but market value is still there. It's still going up.”
Ward 1 councilor Kenny Warren praised the city’s financial stewardship and robust rainy-day fund.
“We are having the highest free cash in the last 10 years, three times in the last 10 years," he said. "Two of them are $8 million, usually we're $6 million and less. In the last- The only time we've been above that was the $17 million that we had about two years ago, but it shows we're gaining. We're doing well, and it may bode well when we come to the budget next year.”
Looking into 2025, Warren says Pittsfield will have to prepare for Donald Trump’s return to the White House.
“Next year is going to be worse," said the councilor. "I think on a national level, I think we're going to be seeing federal funds dry up. I think the economy is not going to be as good. So, we're going to find ourselves behind an eight ball that we may not have seen for years.”
The city council unanimously passed Pittsfield’s FY25 tax rates as proposed by the city.
