Scott predicts no increase in property taxes
MONTPELIER, Vt. (WCAX) - Governor Phil Scott Tuesday said he’s hopeful property taxes will not increase and that a flood of federal cash appears to be softening the blow.
The tax department in December forecast a 9% increase in education property taxes for next year as the state predicted dire revenue shortfalls. But a windfall in federal cash has picked up state revenues, meaning Vermonters won’t see as big of a hike.
Lawmakers are mulling over a 3% increase but Scott Tuesday said he believes the state can keep the tax rate flat, saving Vermonters cash. “I think It’s a good sign to the communities through Vermont that we won’t see a substantial increase but I believe we will get down to not having any increase at all,” he said.
The education fund is fueled by property and consumption taxes, which have gone through the roof as people shop online from home during the pandemic.
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