Letter: Ed funding overhaul is needed in Vermont
The bill cuts education property taxes in half. A graduated income tax and a shift of 100 percent of sales tax revenues to schools. is the key.
The key feature in the bill is a drastic reduction in the homestead property tax, which would be reduced by 48 percent per payer, from $1.594 to 83 cents per $100 of assessed value, on average.
It does what Governor Scott is always talking about: To make Vermont more attractive and affordable.
To quote Speaker Johnson: "The fact that this drastically lowers property taxes makes it more viable for people at all income ranges to invest in Vermont, invest in property in Vermont and put down roots here."
The new proposal spreads the base for education spending. It reduces reliance on property taxes and increases the share that comes from income and sales tax.
Governor Scott doesn't sound very enthusiastic. Is that because it didn't come from his administration? I hope he comes around to seeing that this is a major step toward addressing the school funding problem.
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