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Throughout The Valley towns are setting tax rates and some voters have already received their property tax bills.
Fayston has set its property tax rate and bills have gone out. The local tax rate this year is $0.23 and the nonresident rate is the same. Last year that rate was $0.195. The education tax rate is $1.53 with the nonresident rate lower, at $1.43. Last year those rates were $1.48 and $1.41, respectively. Total tax rates with a $0.0004 local agreement tax are $1.76 for residents and $1.66 for nonresidents.
In Waitsfield, taxpayers received bills for 18 months because the town is transitioning from a calendar year for budgeting to a July 1 to June 30 fiscal year. Although property tax bills may seem higher, the tax rate is actually lower.
The municipal tax rate in 2013 was $0.33 and in 2012 was $0.31. Based on the 2014 Grand List, the first six months (January to June) of expenses reflect a rate of $0.1404 and the 12 months of expenses from July 1, 2014, to June 30, 2015, reflect a tax rate of $0.27. With the local agreement rate of $0.0030 added, it works out to $0.42.
Waitsfield's education tax rate is $1.48 for residents and $1.41 for nonresidents. Last year those rates were $1.38 and $1.36, respectively. Total rate for Waitsfield residents is $1.90. For nonresidents, total tax rate is $1.83.
Waitsfield voters will pay their property taxes in quarterly installments this year.
In Warren the municipal rate has been set at $0.39, lower than last year's $0.44. Warren education tax rate for residents is $1.45. For nonresidents, the rate is $1.48. Last year those rates were $1.34 and $1.43, respectively. Total tax rates for Warren taxpayers are $1.84 for residents and $1.87 for nonresidents.