Pittsfield Reviews Financial Condition Before FY27 Budget

PITTSFIELD, Mass. — The average single-family home in Pittsfield has increased by more than 40 percent since 2022. 

This was reported during a joint meeting of the City Council and School Committee on March 19, when the city's financial condition was reviewed ahead of the fiscal year 2027 budget process.

Mayor Peter Marchetti said the administration is getting "granular" with line items to find cost savings in the budget.  At the time, they had spoken to a handful of departments, asking tough questions and identifying vacancies and retirements. 

Last fiscal year’s $226,246,942 spending plan was a nearly 4.8 percent increase from FY24. 

In the last five years, the average single-family home in Pittsfield has increased 42 percent, from $222,073 in 2022 to $315,335 in 2026. 

"Your tax bill is your property value times the tax rate," the mayor explained. 

"When the tax rate goes up, it's usually because property values have gone down. When the property values go up, the tax rate comes down." 

Tax bills have increased on average by $280 per year over the last five years; the average home costs $5,518 annually in 2026. In 2022, the residential tax rate was $18.56 per thousand dollars of valuation, and the tax rate is $17.50 in 2026.