Residential tax rates fall in Addison, Ferrisburgh
VERGENNES — Officials in the towns of Addison and Ferrisburgh were preparing last week to send out property tax bills that contain lower levies on homes, but raise rates for owners of non-residential real estate.
Overall rates include the cost of funding town services in municipal levies that are identical for both residential and non-residential taxpayers and are included in all tax bills.
The cost of funding the Addison Northwest School District is covered in homestead and non-residential rates that are different for each category of taxpayer.
Homeowners in Addison are seeing decreases of about 2.8 cents in their overall rate, or roughly $28 less per $100,000 of assessed value, assuming they pay on the full value of their properties.
Homeowners in Ferrisburgh are looking at an overall drop in their rate of about 4.7 cents, which translates to $47 less in taxes per $100,000 of assessed value, assuming they pay on the full value of their properties.
Because of the state education funding law, about two-thirds of Vermont homeowners pay property taxes based on their income, not on the assessed value of their homes. They receive prebates that often range into four figures.
Owners of non-residential property — a category that includes commercial and rental property and second homes — are seeing at least modest tax increases.
The non-residential rates include a 3.24-cent hike in Ferrisburgh and a 4.83-cent hike in Addison, increases that translate to about $32 and $48 per $100,000 of assessed property value, respectively.
The Addison selectboard dropped its municipal rate by a little less than a penny, while Ferrisburgh’s board added less than a penny to its municipal rate.
Final district homestead school tax rates ran close to those estimated by ANWSD officials in January. In general, they ended up about 1 cent higher than preliminary calculations.
Further details by community are as follows:
Addison’s total 2021-2022 residential rate is $2.1287 per $100 of assessed property value, a decrease of 2.82 cents from the previous rate of $2.1569.
Those paying on the full value of their home will pay about $70 less on a $250,000 property, about a 1.3% decrease.
Of that rate, 43.58 cents supports municipal services, a decrease of less than a penny.
The balance of $1.6929 funds ANWSD operations, a decrease of 2.19 cents.
Addison’s 2021-2022 overall non-residential rate is $2.0656, an increase of about 2.4 % from the previous rate.
Of that rate, $1.6298 goes toward funding ANWSD operations, a number that is about 3.5% higher and offsets the lower town rate.
Ferrisburgh’s total 2021-2022 residential rate is $2.0352, a decrease of about 2.8%. Those paying on the full value of their home will pay about $118 less on a $250,000 property.
Of that rate, 33.05 cents supports municipal services, an increase of about 2.4%.
The balance, $1.7047, funds ANWSD operations, a decrease of about 3.1%.
Ferrisburgh’s 2021-2022 non-residential rate totals $1.9717, an increase of about 1.7%.
Of that rate, $1.6412 goes toward ANWSD operations, an increase of about 1.5%.
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