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Essex Junction staff outline revenue sources; GlobalFoundries cited as about 6% of property tax base
Summary
City staff said approximately 76% of property-tax revenue currently comes from residential properties, 10% from business, 8% miscellaneous fees and about 6% from GlobalFoundries, but warned an ongoing reappraisal could change those shares for FY27.
City Manager Regina Mahoney told residents that the proposed FY27 revenue mix is weighted heavily toward residential property taxes. "So, essentially, about 76% of our, property taxes come from residential properties, 10% from business properties, 8% miscellaneous... and then GlobalFoundries, here in Essex Junction, that makes up 6% of the property tax," she said.
Mahoney cautioned the city is undergoing a reappraisal that could shift the relative shares of residential and commercial property for FY27. "We are currently doing a reappraisal, and so how this shakes out in FY27 may change," she warned, noting the percentages presented were preliminary.
