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Committee hears bill to correct TIF overpayments after state audit
Summary
A bill introduced to correct tax increment financing (TIF) calculation errors would reimburse education funds after an audit found software miscalculations; no vote was taken.
The Ways & Means Committee heard testimony on bill H178 to correct miscalculated tax increment financing (TIF) transfers that resulted in excess payments to education funds in multiple municipalities.
Carol Dawes, TIF administrator for Barre City, told the committee the state auditor’s TIF audit for the town of Milton uncovered a miscalculation in the NEMREC grand-list module used to transfer grand-list information between the Department of Taxes and towns. "The…
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