Rutland select board approves lower proposed tax rates; votes 3-0
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Summary
At a July 23 special meeting, the Rutland Town Select Board approved proposed tax rates — homestead 1.6501 and nonresidential 1.9638 — after the town clerk presented worksheets showing how the townwould meet budgeted appropriations, bond payments and veteran exemptions.
RUTLAND, Vt. — The Rutland Town Select Board voted 3-0 Wednesday to approve tax rates proposed by the town clerk for the coming fiscal year, setting a homestead total tax rate of 1.6501 and a nonresidential rate of 1.9638.
Town Clerk Carrie Clark walked the board through the worksheet she prepared to "back into" the tax rate by matching voted appropriations and departmental budgets to the towngrand list and anticipated revenues. Clark said the worksheet reflects: voter-approved appropriations from the March ballot; department budgets less anticipated departmental income where applicable; contributions for depreciation as increased on the ballot; existing bond schedules; and the effect of veteransexemptions on the tax base.
The clerk told the board the town must raise $13,327,372.99 in property taxes to support the budgets shown on the ballot and in the town report. Clark said some factors pushed the proposed rate lower than last year: an increase in the towngrand list and a decline in the state-provided education tax rates. She also noted the town is using $1,300,000 in local-option revenues to reduce the real-estate tax burden.
Clark explained how bond payments were handled in the calculation. She said the existing Center Rutland bond has payments scheduled through 2027 and therefore did not require additional bonding in the current worksheet; the calculation does include the new public-safety building bond and the related interest and principal payments.
On exemptions, Clark said Rutland provides a $40 reduction in assessment for qualifying veterans and that the town must raise the lost education tax revenue on other taxpayers. Using figures from the lister's office, Clark said veterans' homestead exemptions totaled about $780,000 and nonresidential veterans' exemptions about $60,000, producing an education-tax shortfall the worksheet showed as $11,750 that the town must account for in its rates.
Select board members asked clarifying questions about the worksheet mechanics, including how anticipated departmental income is subtracted from departmental expense and how carryover funds are applied. Clark said some departments have carryover balances available and described how she allocates depreciation amounts each time property tax payments are processed.
A motion to approve the town clerk's proposed tax rates was made, seconded and approved unanimously. The board directed the clerk to proceed with printing tax bills; Clark said the bills will go out July 31 so taxpayers receive them about a month before the first due date.
Attendees listed at the start of the special meeting were Select Board members Sharon Russell, Mac Eddy and Mary Ashcroft, and Town Clerk Carrie Clark. The meeting convened at 5:00 p.m. and adjourned after the vote.