Reeds Landing, sponsored by Baystate Health Systems, consists of 117 independent living units, 54 assisted living units and 40 skilled nursing facility beds. It is located on leased land here at Springfield College. The facility, which opened nearly six years ago, charges entrance fees and monthly fees toits residents. Assisted living facilities and retirement communities are among the fastest growing multi-family developments in this state.
Three years ago, the assessors' office here issued a real estate tax bill of $482,261 based on a valuation of $21.7 million as a completed facility. Reeds Landing sought a property tax exemption or at least an abatement of the valuation but that was denied. They appealed the decision to the Appellate Tax Board, which determined that the facility is fully taxable and was not overvalued.
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