Average Vermont property tax rate will rise by 1 cent to $1.535

From Vermont Business Magazine, December 1, 2015.

Property tax rates and public education spending will both go up next year, but both slower than the current year. The Commissioner of Taxes has released forecasts related to education tax rates for the upcoming fiscal year, FY2017. The statutorily required forecasts are a joint effort between the Agency of Education, Department of Taxes, and Joint Fiscal Office. This year the forecast shows that the projected average homestead property tax rate will rise by 1 cent to $1.535 per $100. The projected average nonresidential property tax rate will rise by three tenths of one cent to $1.538. The projected average income rate will go down slightly from 2.74% in FY2016 to 2.72% in FY2017 (which begins on July 1, 2016). The average tax bill for all three types of payers is projected to increase 1.12%.

For the full article please visit: http://www.vermontbiz.com/news/december/average-vermont-property-tax-rate-will-rise-1-cent-1535