UPDATE: School Taxes
Vermont school property tax rates will see another round of legislative action as the Governor has called the Legislature back next week for a special session. Anything could happen!
Here is where we stand at the moment. The budget passed by the Legislature contains school property tax increases of about 2.6 cents for homeowners and 5.5 cents for nonresidential property taxpayers. For Norwich homestead taxpayers, based on the complicated state formula and the upcoming MCS and Dresden school budgets, the homestead rate is estimated to be $1.8528, a four cent increase from last year, but less than the $1.9198 projected at Town Meeting. The estimated income sensitivity tax rate in Norwich is 3.06%.
Notwithstanding the talk at Town Meeting, the Vermont Legislature did not pass an income tax to fund education. The income tax that passed the House did not make it through the State Senate.
Governor Scott wants no tax increase. The debate is what to do with some one-time money the State will receive this year.
Political junkies take note. This legislative session is not a veto session but a special session. That “opens a potential can of worms for the governor. In a special session, lawmakers can pass bills that didn’t make it before adjournment. And bills can be passed on a majority vote, instead of the two-thirds vote required for a veto override," said the VTDigger article ANALYSIS: Lawmakers leave without a deal on taxes and budget by Anne Galloway.