Vermont Lawmakers Pass Property, Software, Rental Tax Boosts

The Vermont General Assembly closed out its legislative session at the start of the weekend with votes for an average 13.8% rise in the property tax that funds school districts and new levies on cloud-based software and short-term rentals.

Lawmakers passed H887, the so-called yield bill, which establishes the statewide homestead and nonhomestead property tax rates. The bill also features a menu of tax increases, revenue-shifting strategies, and study commissions examining public education funding—all designed to avoid a much higher property tax increase. After going through several amended versions of the bill Friday, the House and Senate approved ...