Inflation is not an emergency
Thank you to the Gazette for bringing light to how, in Easthampton and other local communities, leaders have been turning to their “rainy day” funds to pay required bills (“The city’s ride to an override,” May 28). That’s precarious and wrong-headed. Inflation is not an emergency. Those reserve funds are there for community-wide disasters and crises, not for plugging rising costs, and certainly not for subsidizing Easthampton property owners, who naturally want to avoid taxes but currently benefit from the second-lowest tax rate in Hampshire County.
Did you know Easthampton landlords and property owners have seen their real estate wealth go up around 50% in the past five years, far beyond inflation rates? That’s been great news for landlords and homeowners, myself included. For the median Easthampton home valued at $418,000 that’s meant about $140,000 in new wealth. (Unfortunately renters don’t see that benefit, and have instead seen rents go up dramatically.)
So consider that maybe it’s a bit sunnier for property owners than it feels. We should consider funding our community with its trained professionals and first responders at a level that can effectively respond to emergencies. And let’s preserve “rainy day” funds for an actual crisis, not use them for keeping taxes low.
Greg Rolland
Easthampton