Vermont 2025-2026 Regular Session

Vermont House Bill H0178

Introduced

2/11/25

Refer

2/11/25

Caption

An act relating to refunding property tax overpayments to the City of Barre and to the Town of Milton

Impact

The bill outlines specific amounts to be transferred from the Education Fund to the affected municipalities. For the City of Barre, an amount of $437,028 is to be refunded for overpayments made during the fiscal years 2016-2020. Similarly, the Town of Milton is set to receive $184,451, which accounts for overpayments recorded from fiscal years 2017-2023. This action seeks to correct past deficiencies in funding and ensure that both municipalities receive their fair share of the property tax revenue that they are entitled to.

Summary

House Bill 0178 pertains to the refunding of education property tax overpayments regarding two specific municipalities: the City of Barre and the Town of Milton. This bill arises from prior miscalculations related to the amount of tax increment that was supposed to be retained by these municipalities from their respective tax increment financing (TIF) district funds. The intended purpose of the bill is to provide compensation for those overpayments, which have impacted the financial operations of these local government entities.

Contention

While the bill is largely administrative in nature, its passage may raise discussions concerning the management of education funding and the implications of TIF districts on local taxation. Stakeholders may express various viewpoints on the adequacy of the existing tax increment calculations and the oversight mechanisms in place to prevent such discrepancies in the future. This aspect of the bill could lead to broader debates about fiscal responsibility and local governance structures, particularly as they relate to education funding.

Companion Bills

No companion bills found.

Previously Filed As

VT H7468

Increases the amount of state aid distributed to the towns and cities through appropriation in lieu of property tax provisions applicable to certain private and state properties that are exempt from property tax.

VT S2552

VT HB1417

enabling municipalities, cities, and towns to adopt a land value tax system and making an appropriation therefor.

VT H5752

Imposes a property tax on non-owner occupied residential properties assessed worth at one million dollars ($1,000,000) and less than two million dollars ($2,000,000) and a higher tax on properties assessed at two million dollars ($2,000,000) or more.

VT H4094

Relative to the establishment of a Milton means-tested property tax exemption

VT AB1026

Interest rates on late, nondelinquent taxes and on overpayments. (FE)

VT SB1012

Interest rates on late, nondelinquent taxes and on overpayments. (FE)

VT S09674

Authorizes cities and towns, except a city with a population of one million or more, to establish community housing funds; authorizes such cities and towns to impose a real estate transfer tax with revenues to be deposited in such funds; makes related provisions.

VT SB652

changing the maximum award of tax credits for overpayment of due taxes.

VT AB1112

An act to amend Section 98 of the Revenue and Taxation Code, relating to property taxation.

Similar Bills

No similar bills found.