FY22 Preliminary Real Estate Values
Laura McCarthy, chairman of the Chicopee Board of Assessors, announced that Chicopee has received the Department of Revenue’s preliminary approval of the city’s new real estate and personal property values for fiscal year 2022 and that these values are available on the city’s website for review by the public until Friday, September 3, 2021 at 4:00 p.m.
“Every five years the Assessors must implement a Re-Valuation Plan during which the Department of Revenue reviews and certifies a community’s assessment and valuation practices,” stated Assessor Laura McCarthy. “The assessors analyzed the valuation of all parcels and prepared many documents for the certification review by DOR. That included a data quality study, a field review, an onsite procedural audit of appraisal methods used, data collection practices, computer valuation models, land schedules, sales analysis, pricing and depreciation schedules, as well as a statistical analysis of proposed values.”
According to Assessor Brian Suchy, “the new real estate assessments are significantly higher than prior assessed values. They are based on sales from calendar year 2020 when the real estate market was experiencing a substantial increase in the market sale price. This has carried over in to the current year where we have seen bidding wars become the normal practice resulting in record sale prices.”
“The new personal property values for businesses are based on Real Estate Research Consultants cost manual. The property data was compiled from forms of lists that were filed by property owners and inspections of personal property at companies in the city.” stated Assessor Victor Anop.
These values can be reviewed by the public online at the city’s website at www.chicopeema.gov/149/Assessors-Office
“The public disclosure period will run from Friday, August 27, 2021 until Friday September 3rd at 4:00 p.m. Property owners are encouraged to contact the Assessors’ office at 594-1430 with any questions, or to review, discuss and request changes to the proposed values,” added Assessor Victor Anop.
After preliminary approval and the public disclosure period, the Assessors will need the Department of Revenue’s approval of final values and new growth numbers in order to proceed to a tax classification hearing at which the tax rate will be set by the Chicopee City Council in coordination with the Mayor.
Assessors Laura McCarthy, Chairman; Victor Anop, Brian Suchy Office: 594-1430