Vergennes tax rate up 24 cents from 2013

VERGENNES — Vergennes property tax bills have gone out for 2014-2015 with increases from the past fiscal year.
The city’s new residential property tax rate stands at $2.1435, up 24.35 cents from the past year, or about 13 percent.
That translates to an increase of about $243 per $100,000 of assessed value.
Homeowners eligible for income sensitivity provisions of Vermont’s education finance laws will eventually not be responsible for the entire face value of their new tax levy. About two-thirds of Vergennes residential taxpayers received prebates during the most recent year for which statewide data is available.
That new residential tax rate breaks down to 72.8 cents for municipal services, including a small amount on top of the 72.5-cent rate aldermen approved to account for tax breaks for disabled veterans and properties owned by nonprofits, and $1.4155 for city schools.
Both those rates rose from this past year, the city rate by a little more than 9 cents, most of which will go toward paying for the new Vergennes police station, and the school rate by 15.33 cents.
The Vergennes non-residential rate rose by almost 17 cents, or 8.4 percent, to $2.1835.
Owners of commercial property or apartment buildings in Vergennes will see their taxes go up by about $170 per $100,000 of assessed value.
The non-residential rate breaks down to the same 72.8 cents for city services, plus $1.4555 for schools. 

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