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Rutland treasurer warns reassessment, lower grand list could raise tax rate
Summary
Rutland City Treasurer Markowski said rising budgeted spending and a state-driven drop in utility valuations have created a tighter fiscal picture for FY26, with a roughly $7 million grand-list reduction that could lower tax revenue by about $132,000 if not otherwise offset.
Rutland City Treasurer Markowski told the Board of Aldermen on July 7 that the city’s budget for fiscal 2026 is up by “close to $700,000,” and that a recent state-conducted reassessment of utilities has reduced Rutland City’s grand list by about $7 million — a change the treasurer said would cut the city’s property tax revenue by roughly $132,000 if left unchanged.
The treasurer presented the figures as a preliminary estimate ahead of the formal tax-rate setting and said the city faces simultaneous pressures: higher budgeted spending, lower non-tax revenues in some lines and a reduced grand list driven by the state’s utility valuation update.
Why it matters: the tax rate calculation uses the city’s budget needs offset by non-tax revenue and the taxable grand list. A smaller grand list or lower transfers into the general fund means more of the budget must be raised through…
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