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Bill > H0178
VT H0178
VT H0178An act relating to refunding property tax overpayments to the City of Barre and to the Town of Milton
summary
Introduced
02/11/2025
02/11/2025
In Committee
02/11/2025
02/11/2025
Crossed Over
Passed
Dead
Introduced Session
2025-2026 Session
Bill Summary
This bill proposes to refund education property tax overpayments made by the City of Barre and by the Town of Milton due to miscalculations of the amount of tax increment to be retained by each municipality from its tax increment financing district fund.
AI Summary
This bill proposes to refund education property tax overpayments to two Vermont municipalities by transferring funds from the Education Fund. Specifically, the City of Barre will receive $437,028.00 and the Town of Milton will receive $184,451.00, both not later than fiscal year 2026. These refunds are compensation for overpayments made in previous fiscal years due to insufficient retention of tax increment from their respective Tax Increment Financing (TIF) District funds. A TIF district is a designated area where future gains in taxes are used to subsidize current improvements, which can help economic development. The bill overrides existing legal provisions to allow these specific refunds and will take effect immediately upon passage. The transfers are meant to correct miscalculations in how much tax revenue these municipalities were allowed to retain from their TIF districts during the specified fiscal years.
Committee Categories
Budget and Finance
Sponsors (7)
Michael Boutin (R)*,
Anthony Micklus (R),
Leland Morgan (R),
Mike Morgan (R),
Brenda Steady (R),
Chris Taylor (R),
Edward Waszazak (D),
Last Action
House Committee on Ways and Means Hearing (00:00:00 2/21/2025 ) (on 02/21/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.vermont.gov/bill/status/2026/H.178 |
| BillText | https://legislature.vermont.gov/Documents/2026/Docs/BILLS/H-0178/H-0178%20As%20Introduced.pdf |
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