Henry Raymond
Fairfax News => Political Issues/Comments => Topic started by: Carolyn Branagan on April 21, 2011, 05:25:19 PM
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Vermont was fortunate to withstand the staggering drop in real estate appraisal values other states experienced during this recession. But now land values here are declining too. This was reflected in the Common Level of Appraisal (CLA) for both towns in the legislative district at Town Meeting time. Statewide land values are declining for the first time in many years. This decline is especially attention worthy because our school funding mechanism is based on property tax.
Fiscal personnel here at the statehouse are advising that although both the Homestead and Non-resident statewide tax rates will go up a cent, the total amount of money collected for the Education Fund for fiscal year 2012 will go down. This is due to the decreased values of property. The amount generated by the Homestead property tax will be about $4 million more than this year, a drop in the bucket for a $1.3 billion fund. But Non-resident property tax will bring in about $12 million less than this year, causing an overall statewide decrease in Education property tax collected.
Keep in mind that for two years in a row school boards statewide have decreased spending, an incredibly difficult job. The number of pupils continues to decrease, a trend that began in the late 1990’s. What we need to concentrate on is keeping the quality of the education our children receive at a top notch level.
For more information contact me at cbranagan@leg.state.vt.us
Rep. Carolyn Branagan