MONTPELIER, Vt. (WCAX) – Vermont lawmakers are hoping a plan to delay Town Meeting Day votes on local school budgets will buy them more time to deal with a looming property tax hike.
Property taxes are currently expected to hit an alarming 20% caused by increases in health care spending, aging school infrastructure, and last year’s education funding reforms. Those reforms were aimed at educational equity, putting a cap on what wealthier districts can pay. But lawmakers say the changes led to unintended consequences, with some schools spending more than they should in anticipation of the law taking effect. Lawmakers are now considering repealing that cap and giving some of those districts tax discounts on homestead property taxes, and taxes on second homes and businesses for the next five years.
Lawmakers are going to allow districts to push back Town Meeting Day school budget votes so they have time to rewrite their budgets.
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