Gov. Phil Scott signed S.160 into law on Wednesday, giving municipalities hit hard by the July 2023 flooding a break on some of the education property taxes they owe to the state.
S.160 would reimburse municipalities for the amount they owe to the statewide education fund from properties that got an abatement on their taxes due to flood damage. It is similar to a measure passed in the wake of Tropical Storm Irene in 2011.
The 2024 version was initially sponsored by Sen. Ann Cummings, D-Washington, and is expected to help central Vermont cities like Montpelier and Barre that have received dozens of abatement requests from the flooding.
Barre City Clerk Carol Dawes said last week that the city expects between 60 and 90 abatement requests, and could owe the state education fund between $200,000 to $250,000 if all are approved. Montpelier City Clerk John Odum said that the city has received 28 abatement requests so far.
The Joint Fiscal Office estimated that the total cost to the education fund could be about $1.1 million in fiscal year 2024.
This legislation is the second bill that Scott has signed into law in 2024, after S.141, which approved a charter change in Fairfax.
