To the editor:
For many months there have been significant rumors of large increases in Vermont 2024 and 2025 Property Taxes.
As a mature retiree on a fixed income I have come to disregard rumors of tax increases until hard facts become available.
The Hard Facts arrived on July 30 in the form of the 2024 Cambridge Tax Bill so this topic can be avoided no longer.
Resident Education Tax Rates are increasing by 15.67% in 2024. A very large increase in just one year! This confirms the first rumor.
This rate of increase, if continued, will result in the doubling of education taxes between 2023 and 2031.
If the second rumor, that tax rates will increase by 20% in 2025, becomes a reality then education taxes will double between 2023 and 2030.
I believe these tax rate increases will prove to be extremely painful for many Cambridge Residents.
Non Resident Education Tax rates are increasing by only 11.71% in 2024.
NON Resident Education Tax rates have been higher than Resident rates, BUT for 2024 the NON Resident tax rate is increasing less rapidly than the Resident Tax Rate. If these relative rates of increase are maintained, the result will be that Residents will pay a HIGHER Education Tax Rate than NON Residents by 2027. This should create some very interesting discussions at Town Meetings!
I conclude from these tax rate reviews that the existing system is not fair nor supportable by Cambridge Tax payers and will need to be scrapped and replaced in the near future.
The Vermont Education Industry must initiate cost containment actions, given a decreasing student population. We must stop the double digit rate of growth in education costs in Vermont.
The 2024 Municipal Tax Rate Increase of 1.44% is a very welcome rate increase, well in line with the desired Federal Inflation Rate of 2.0%.
I do not expect that my neighbors called Senator Westman or Representative Boyden and advised them of their support for these very large Education Tax increases. Democracy lost this time.
SO, please call your existing Senator and Representative in October and determine their level of support for these tax increases.
THEN, vote with this issue in mind on November 5.
Reg Wilcox