Administration tentatively supports tax rate buy-down
MONTPELIER—Gov. Phil Scott said his administration was considering a proposed plan to buy down a projected 12% property tax increase in fiscal year 2027, but warned that such fiscal intervention is not a long-term solution to the state’s education funding problems.
At the beginning of the month, Vermont Commissioner of Taxes Bill Shouldice issued a statutorily-mandated education property tax rate forecast, which forecasts the education tax yields for homestead and non-homestead tax rates. This year the department projected an average increase of 11.9%.
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