School Taxes

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Schools across the state are bracing for a potential zero percent growth in their tax levy next year. While the latest provisions of an ongoing tax cap won’t take effect until the 2016 school year, the state schools boards association says schools are starting to worry now.

According to projections from the State Comptroller, the rate of inflation will rise by less than a percentage point over the next year. The state’s tax cap limits increases in property taxes to 2 percent or the rise in inflation, whichever is lower.

Picture of a Vermont School Bus
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Governor Peter Shumlin says school spending projections are going to require a 2-cent increase in the statewide school property tax rate.

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Vermont House members are expressing relief that they've been able to reduce increases in statewide school property taxes from what had been projected earlier.

WAMC

The Vermont House has advanced legislation that would bring a sharp increase in the statewide school property tax rates.

Wednesday's debate concerned a 5-cent increase in the statewide residential property tax rate, to 94 cents per $100 of a home's value.