Condominium owners in Greenfield, many of whom have seen their property values drop, may soon see their property taxes drop as well.
Because condo prices have fallen more than the prices of homes and other kinds of property during the housing slump, Greenfield will take a comprehensive look at condo values and make any needed adjustments.
The city does smaller readjustments every year so that taxpayers pay their fair shares. But city assessor Eric Miller said the condo area needs a more extensive study.
The Greenfield Common Council approved the study, estimated to cost $30,000, last night.
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