Vermont, State officials announced this week that the state is facing the possibility of an “unprecedented property tax increase” next year based on anticipated education spending and recent changes to the education funding system. Vermont Commissioner of Taxes Craig Bolio said current forecasts project an average 18.5% increase in property tax bills across the state. The projection was included in the annual release of the Tax Department’s education tax yields, which is part of the homestead and non-homestead tax rates for FY25. How this projection would play out at the local level won’t be known until the state releases the weighted pupil counts for each district and the common level of appraisal for each town, which are expected in the coming weeks. The Tax Department’s projections are made on a statewide basis.
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