A 5-Year Plan to Revitalize Education and Stabilize Statewide Property Tax Rates
After years of taxes being raised and new taxes introduced, Vermonters need a break. That’s why, in his first term, Governor Scott has been clear that he will not sign a budget or bill that increases taxes, including statewide property tax rates. Earlier this month, the Legislature passed a budget and education tax bill that raised property tax rates by $33.4 million, which is why Governor Scott will not support these bills and called the Legislature back for a Special Session.
As Governor Scott has said, “the Legislature’s decision to raise property tax rates is even more perplexing in a year the State has about $160 million more in revenue than we did last year – without raising taxes or fees."
The Governor has presented a five-year plan that eliminates the need for statewide property tax rate increases this year, implements policy reforms to increase the efficiency of our education system and yields nearly $500 million in savings over five years. These savings would be used to hold property tax rates level for five years, pay back the one-time money needed to keep rates level this year, and leaves hundreds of millions in additional savings to invest in early care & learning, technical education, higher education, and more. Along with helping homeowners and renters, we can help make it easier for employers to grow – creating more jobs for Vermonters – by giving them five years of stable property tax rates as well.
Today, members of the Administration presented this plan - which incorporates many provisions already passed by the Legislature - before multiple Committees in the House and Senate. Materials from those presentations, along with the Governor's letters to Legislative leaders relating to the Special Session, are available below.
May 31, 2018 Letter to House Speaker Mitzi Johnson: Response and Request on the New Budget Proposal, H.13
May 23, 2018 Presentation to the Legislature: 5-Year Education Revitalization, Tax Stabilization and Investment Plan
May 22, 2018 Letter to Legislative Leaders: Objections to the budget and tax bills
May 15, 2018 Letter to Legislative Leaders: Approach to a Special Session
May 1, 2018 Letter to Legislative Leaders & Committee Chairs: 5-Year Education Revitalization and Tax Rate Stabilization Plan