abatement

At the governor's press conference yesterday he outlined a plan to help communities with costs of abatement for properties damaged in last spring's flooding and from hurricane Irene. The plan was developed by several members of the Ways and Means Committee working with the administration to help communities with taxes due to the State Education fund. It spreads cost for education tax abatement through all property taxpayers in the state. Current law requires local communities to pick up all their own costs.

The criteria is simple: loss has to be at least 50% of the value of the primary structure on the property and loss of use must be at least 90 days. The loss has to have occurred from a federally declared disaster. School and municipal taxes have to be abated equally.

Total cost of this help is estimated at $4 million and will come from the Education Fund, leaving the statutory reserve at the required level. Towns are still required to make all regularly scheduled education payments for this year. The Tax Department will send instructions to towns.

I expect this proposal to quickly receive legislative support and be signed into law shortly after the legislature reconvenes in January. For more information contact me at cbranagan@leg.state.vt.us

Folks at the Fairfax town office have told me there was very little damage in town from either of these storms, but other communities in the state really got hit. This legislation will help them a great deal.

Rep. Carolyn Branagan
Franklin-1, Fairfax/Georgia