From Warren to Fayston to Waitsfield, local taxpayers are receiving this year’s property tax bills.
In Waitsfield, the town set the tax rate in early July. This year’s total municipal tax rate is $0.5794 which includes the municipal tax rate of $0.5759 plus a local agreement tax rate of $0.0035. The local agreement tax reflects a veterans’ homestead exemption, mandated by the state that reduced the appraised value of vets’ homes by $10,000. A second component of the local agreement reflects the fact that under Vermont’s taxation system, tax rates for non-homesteads are lower than for homesteads, despite the intent of the enabling legislation, Acts 60/68.
Waitsfield’s tax rate this year is up 8.9% over last year when it was $0.5323. The municipal tax rate is only one portion of the property tax bills that taxpayers received which includes the state’s calculation for each town’s education spending. In Waitsfield, the non-residential education tax rate is $1.7446. The residential/homestead education tax rate is $1.8184. Last year’s the residential education tax rate in Waitsfield was $1.709 and the non-residential education tax rate was $1.6463.
In Fayston this year’s municipal tax rate is $0.3202 and the local agreement rate is $0.0002, leading to a total municipal tax rate of $0.3204. That is up from a municipal tax rate of $0.31 in 2022 with a local agreement rate of $0.0002. The total municipal tax rate last year was $0.3102. Fayston’s residential education property tax rate this year is $1.7932, up from last year’s education tax rate of $1.6978. The non-residential tax rate this year is $1.7205, up from $1.6336 last year.
Warren’s municipal tax rate this year is $0.393, the same as last year. The education tax rate for Vermont residents for this year is $1.9736 and the education tax rate for non-residents is $1.8935, bringing the total for Warren residents to $2.3666 and the total for non-residents to $2.2865. The total has increased by 8.5% over last year for residents and by 8.2% for non-residents.
Moretown and Duxbury have not yet set their FY24 tax rates. The Moretown Select Board will do so on August 7, 2023. There is not yet a specific date by which Duxbury’s tax rate will be set.
