The South Hadley Board of Assessors has completed a quinquennial revaluation of all property for Fiscal 2025. The proposed valuations (assessments) have received preliminary certification by the Department of Revenue’s (DOR) Division of Local Services (DLS), Bureau of Local Assessment (BLA).
The Assessors have met the guidelines set forth by DOR and the preliminary assessments reflect “full and fair cash value” as of January 1, 2024, in accordance with MGL Chapter 40, Section 56.
The Assessors analyzed the calendar year 2023 sales to value properties as of the assessment date for single family and condominiums. Other classes of properties, due to a limited number of sales, were reviewed over a two-year period. Commercial and Industrial values are derived using an income capitalization method after utilizing income and expense information received from property owners earlier in the year. Most properties have seen an increase in value based on an active market.
The analysis of market sales indicated an average percent increase in single family homes of 5.2%, condominiums seeing an average of 10.5%, two and three families of 7.0%, and apartments seeing an average of 9.8%. Commercial and Industrial properties rose an average of 3.5%.
The new fiscal 2025 assessments are available for public review beginning on Friday, November 8, 2024 through Friday, November 15, 2024. They may be viewed in person at the Assessors Office located in Town Hall at 116 Main Street, Room M7 from 8:30 a.m. to 4:00 p.m. on Mondays, Tuesdays, Thursdays and Fridays, and between the hours of 8:30 to 12:00 p.m. on Wednesdays. These assessments are also available at the South Hadley Public Library located at 2 Canal St. Monday-Wednesday 9:30 a.m. to 8 p.m., Thursday & Friday 9:30 a.m. to 6 p.m. and Saturday from 9:30 a.m. to 1 p.m. Lastly, the new assessments will be available on-line during this time-period on the Assessors page of the Town’s website as well as the Fiscal 2025 Revaluation Information page within the Assessors webpages.
Residents should contact the Assessor’s office during the public disclosure period to ask questions, review and discuss changes in the proposed values. Staff will be available during regular business hours to assist and answer questions related to the revaluation.