# City of Springfield Finance FY27 Tax Rate Committee | October 20, 2026


**Body:** Springfield Municipal Meetings
**Date:** October 19, 2026
**Jurisdiction:** SLED

**Tags:** Grants & Funding


The City of Springfield FY27 Tax Rate Committee met on October 20, 2026, for an educational overview of property-tax classification and the tax-rate process. The Board of Assessors said the FY27 budget was adopted May 28 and that assessed values and new growth still require Department of Revenue approval. The committee expects to review tax-rate options at its November 12 meeting, including a maximum 1.75 shift toward commercial, industrial, and personal property (CIP). Last year, residential properties accounted for 78% of taxable value but paid 61% of the levy after the shift; the total levy is unchanged by the distribution. The City Comptroller said the adopted budget assumes about $6 million in new growth plus the 2.5% levy increase and is on track; additional growth could be placed in the overlay account.

Members also discussed the new targeted property-tax relief program, with applications due November 13 and individual eligibility decisions expected after committee review. Discussion touched on small-business support, vacant properties, state and federal aid, and grant funding; a participant said the city had approved two grants the previous day, but no amounts or procurement details were provided. No tax-rate vote, contract award, RFP, vendor selection, or other procurement action was identified at this meeting.

**Source:** Springfield Municipal Meetings