ADDISON/PANTON/WALTHAM — The June 30 Vermont Department of Taxes release of 2017-2018 school tax rates brought mostly good financial news for owners of residential and commercial property in Addison, Panton and Waltham.
Homestead school tax rates in Addison and Waltham dropped by more than 13 and 10 cents, respectively, while the rate in Panton rose, but by less than a cent, according to a spreadsheet released by the Department of Taxes. See below for exact rates.
The biggest increase came in the non-residential school tax rate in Panton, which rose by close to 6 cents. The non-residential rate also rose in Addison, but by less than a penny. Meanwhile, in Waltham the non-residential rate dropped by about 7 cents.
In general, homestead tax rate estimates provided by Addison Northwest School District officials before Town Meeting Day came close to the mark.
In the case of Addison, Panton and Waltham the estimates were all slightly optimistic, but by less than a penny: They were off by 0.89 cent in Panton and Waltham and by 0.725 cent in Addison.
ANWSD homeowners are all benefitting this year from a 10-cent discount they received from the state as a benefit from the five ANWSD communities’ approval of unification in March 2016.
That discount accounts for the majority of the rate drop in Addison and Waltham. Ferrisburgh also saw a substantial rate decrease (See stories on Ferrisburgh and Vergennes rates in the July 6 edition of the Independent.) Panton and Vergennes would have seen significant increases without unification.
Non-residential rates were not directly affected by Act 48, the education law that, among other provisions, offered benefits to school districts that consolidated their governance operations.
These school tax rates do not include municipal tax rates needed to operate town government, maintain roads, and pay for fire protection and other services. Addison, Panton and Waltham selectboards typically meet in late July or early in August to make final the towns’ overall rates.
All the figures below for increases and decreases in residential taxes for these ANWSD towns are applicable for residents who pay based on the assessed value of their home, not based on their income.
In all Addison County towns, the majority of homeowners pay based on their income and will be eligible for prebates under Vermont’s education finance laws. Those homeowners who pay based solely on their assessed values will see the full benefits of decreases and pay the full amount of increases; results might vary for those who pay based on their incomes.
ADDISON
Addison’s new Fiscal Year 2018 homestead school tax rate is $1.4975 per $1,000 of appraised value, 13.25 cents lower than the FY2017 rate of $1.63.
The decrease translates to $132.50 less in taxes per $100,000 of appraised value, or $265 less for a $200,000 home.
Addison’s new non-residential FY2018 school tax rate is $1.4089, compared to $1.4005 in FY2017.
That difference translates to an 0.85-cent increase, or an additional $8.50 per $100,000 of assessed value, for Addison’s non-residential property owners.
PANTON
Panton’s new FY2018 homestead school tax rate is $1.5554, which is 0.59 cent higher than the FY2017 rate of $1.5495.
The increase translates to an additional $5.90 in taxes per $100,000 of appraised value, or $11.80 more for a $200,000 home.
Panton’s new non-residential FY2018 school tax rate is $1.4634, compared to $1.407 in FY2017.
That difference translates to a 5.64-cent increase, or an additional $56.40 per $100,000 of assessed value, for Panton’s non-residential property owners.
WALTHAM
Waltham’s new FY2018 homestead school tax rate is $1.6592, which is 10.61 cents lower than the FY2017 rate of $1.7653.
The increase translates to $106.10 less in taxes per $100,000 of appraised value, or $212.20 less for a $200,000 home.
Waltham’s new non-residential FY2018 school tax rate is $1.5611, compared to $1.6319 in FY2017.
That difference translates to a 7.08-cent decrease, or $70.80 less in taxes per $100,000 of assessed value, for Waltham’s non-residential property owners.