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Department of Taxes asks for $1.5M more for renter credit, reforecasts homeowner rebate and seeks $500,000 for telecom valuation pilot
Summary
The Department of Taxes told the House Appropriations Committee it needs a $1.5 million increase to the renter credit (bringing the FY current-year appropriation to $11 million), expects the homeowner rebate appropriation to decline on updated forecasts, and asked for $500,000 to inventory and value telecommunications property for municipal assessment.
Andrew Stein, chief operating officer at the Vermont Department of Taxes, told the House Appropriations Committee on Dec. 17 that the department is submitting three Budget Adjustment Act requests: a $1.5 million increase to the renter credit (B138), an updated forecast that reduces the homeowner rebate appropriation, and a $500,000 request to fund a telecommunications property valuation and inventory project.
Stein said the renter credit appropriation is indexed for inflation and the department reforecasted the current year because analysts expect up to 1,000 households to lose federal rental subsidies; that combination pushed the current-year appropriation from $9.5 million to an…
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