For many of Vermont’s residents the property tax adjustment program creates significant reductions in their property taxes, but at the same time creates a great deal of confusion as to how it is determined. For those of our clients that it pertains to, the impact can be so significant that we must factor it in while performing tax planning for them throughout the year.
The Burlington Free Press recently published an informative article on the subject – clarifying this often-misunderstand tax program.
“We hear a lot these days about transparency in government,” explains Art Woolf, Associate Professor of Economics at UVM and Edity of the Vermont Economy Newsletter. “How we actually pay for our schools, and how people’s property tax bills are calculated, is about as far from transparent as you can get. That’s not a good way for citizens and taxpayers to make informed decisions. When people can’t understand how they are paying for a government service, it’s hard for them to be concerned about its cost or quality.”
For the full article please visit: http://www.burlingtonfreepress.com/story/money/2014/04/17/two-thirds-vt-homeowners-get-school-tax-break/7816099/.
Davis & Hodgdon Associates has been assisting individuals and businesses in the Burlington Vermont Metro area for more than 20 years. If you have any questions or concerns please feel free to call 802.878.1963 or email [email protected].