- Associated Press - Friday, January 1, 2016

MONTPELIER, Vt. (AP) - Legislative budget writers grappling with shortfalls this year and next are getting a little bit of relief from the state’s homeowner and renter tax rebate programs.

The programs provide income sensitivity to Vermont property taxes by providing taxpayers payments from the state when property taxes take too big a bite out of income.

As the Legislature prepares its annual mid-year budget adjustment bill, administration officials say they’ve had to make nearly $3 million less than expected in homeowner rebates, and another $450,000 less in rebates to renters.

It’s part of the answer to a $38 million budget gap lawmakers are trying to close for the current fiscal year.

Tax Commissioner Mary Peterson says adjustments in projected costs of the rebate programs are common, and are influenced by municipal tax rates.


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