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SUMMARY OF THE 2005 ACTS AND RESOLVES

ACT NO. 1

(H.61)

Property tax rates; reduction

This act reduces the base education property tax rates for Fiscal Year 2005 only. The base homestead rate is reduced from $1.10 to $1.02, and the nonresidential rate is reduced from $1.59 to $1.51.

In addition, for those who pay education property tax based on income, the act reduces the base percentage of household income from 2% to 1.85% for Fiscal Year 2006 income sensitivity claims only.

Effective Date: July 1, 2005



Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont


www.leg.state.vt.us