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JFO analyst outlines how the education fund outlook and the ‘yield’ shape Vermont property tax rates
Summary
A Joint Fiscal Office analyst told the House Education Committee that the education fund outlook and the annually set property 'yield' determine how much of education spending is paid by homestead and non‑homestead property taxes and warned that failing to pass a yield bill could sharply raise rates.
Ezra Holden, a Joint Fiscal Office analyst, briefed the House Education Committee on the education fund outlook and the role of the property yield in setting homestead and non‑homestead property tax rates. Holden said the outlook shows aggregated district spending, the fund’s recurring revenue sources and how the legislature’s yield bill mathematically converts those figures into tax rates.
Why it matters: the yield bill sets the statewide numbers that determine whether districts’ local education spending translates into higher or lower property tax rates for residents. Holden and committee members described the yield bill as a routine, technical measure with high practical impact on taxpayers and municipal budgets.
Holden summarized the spending…
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