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?
In one year, Vergennes homeowners are expected to cough up almost another $700,000 according to the Addison Independent. Well unless many of them hit the lottery, more than likely they will cut back on their discretionary spending. And why not, gas and fuel oil isn’t nearly expensive enough. They ain’t cutting back on that stuff yet. Montpelier thinks it should add a tax there too.
Certainly they should avoid new flooring at “Little City Flooring” - it would only add to their tax burden anyway. And those delicious chocolates at “Daily Chocolate” on Green Street… well let those flatlanders pick up the slack since they are already paying more for gas to drive up here - let them support that fancy chocolate shop. And those fancy clothes in that “Outfitter” shop on the corner… well… at least buying something there won’t add to my property tax. Ah… upgrading my windows that I might get at Vergennes Building Supply… might improve my energy efficiency but then they’ll just up my property taxes… Let’em eat crow I say! Well, with $700,000 less each year flowing into the local economy, not sure it’s a good idea to open that new business. Could have used a few employees too.
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