SPRINGFIELD — The Springfield regional Chamber of Commerce announced that it supports Springfield Mayor Domenic Sarno’s recommendation for the city’s fiscal year 2022 property tax rate, which would reduce the commercial and industrial rate level from fiscal year 2021.
“This reduction will support our hardest hit business sectors like our retailers, our restaurants, and our hotels, especially those that saw their property values decrease as a result of the pandemic,” the chamber said in a statement. “We understand the mayor’s need to provide tax relief to the city’s residents during these economically difficult times despite their rising property values, but we appreciate the fact that the mayor recognizes the challenges that continue to face our business community as well. Through his rate recommendation, the mayor has found a way to balance the needs of all constituents while serving as a catalyst for the economic recovery of the city.
“The business community cannot succeed without the residents who work for our companies, organizations, and nonprofits, who shop in our stores, and who dine in our restaurants,” the statement continued. “Residents cannot succeed without the jobs, tax dollars, and charitable giving from our business community.
“We must all continue to work together as we come out of this unprecedented crisis and move the city forward, and we hope that we do not find ourselves in a situation where we are creating opposition against each other,” it went on. “As a member of the city’s Tax Advisory Committee, which has been working to find common ground on this issue and will make its recommendation to the City Council, we hope that the committee and the Council will ultimately come to the same conclusion and find that balance.”