a “staggering” surprise for Vergennes

May 29th, 2007 Vermont, economics, taxes

The Addison Independent has an article on the tax effects of reappraisal in Vergennes.  It’s entitled “city reapprisal “staggering” to homeowners”.  While the article is a bit obtuse in presenting its facts and opining on the “fairness” of it all (I particularly like the idea that those homes better maintained and upgraded also got a bigger reappraisal - that’s fair…), some basic facts can be gleaned.  For example, the “average” increase in taxes is $768 dollars.  Based on data from 2000, there are approximately 900 or so residential properties in Vergennes.  Which means, the reappraisal generated 768 x 900 or $686,000 (admittedly a rough approximation).  And just where is that $686000 going to come from?

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