Going Up: School Taxes


Submitted a year ago
Created by
norwichobserver

Increase of $417 on a $400,000 home

The State expects to increase its education tax rate next year by 9.4 cents. In Norwich that means a $417 increase on a $400,000 home. For nonresidential property of that value in Norwich, the increase will be $376 according to the budget presentation at the Norwich School Board on Wednesday December 6. Those who property tax is based on income can expect an increase of more than 2.65 percent said the State. 

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The homestead rate might further increase depending on increases in the Marion Cross School and Dresden budgets. Homestead tax rates are 27¢ higher in Norwich than nonresidential rates this year. In over 100 towns, the nonresidential rate is higher than the homestead rate. See, School Homestead Tax Rate: How can this be fair?   

Last year, the State used surplus funds to lower the education tax rate. No surplus exists this year accounting for roughly 4 cents of 9.4 cents increase, said the Legislative Joint Fiscal Office in a preliminary report.  Roughly 5 cents of the increase relates to “nominal growth of 3% in education spending.”

Screen shot of catv8 video of Norwich School Board December 6 meeting


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LINKS: 
Scott administration: Property taxes to increase by more than 7 percent, by Tiffany Danitz Pache, published in VTDigger Dec 1 2017 

School Homestead Tax Rate: How can this be fair? 

Preliminary Outlook for Education Tax Rates in FY19, Vermont Legislative Joint Fiscal Office, November 9, 2017.

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