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Statewide property tax to jump next year


Times Argus - 1:22 pm Thu Apr 1st, 2010

The state's property tax rate will almost certainly increase next year, for the first time since there has been a statewide property tax.

A combination of increased school spending and weakening property values means that both the resident and non-residential statewide property tax rate will go up by 2.2 cents per hundred dollars of property value, unless there is a change in spending, Tax Commissioner Richard Westman wrote in his letter to legislative leaders Tuesday.

"There are many underlying factors for these difficulties, notably education spending increases and declining property values due to the recession," Westman wrote.

Read the whole story in the Times Argus: http://timesargus.com/article/20091202/NEWS02/9120...

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Montpelier, VT 05602 (Set as Local)

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