MONTPELIER, Vt. (AP) — The Vermont House Committee on Ways and Means is considering a measure that would change the way education is funded.
Vermont Public Radio reports the proposal would shift education funding from property tax to income tax. Committee chairwoman Rep. Janet Ancel says the rate will be uniform for every municipality while the first $47,000 of income would be exempt. The measure would also keep a statewide tax on non-residential property.
Ancel says many residents are overwhelmed by hefty property taxes. Ancel says income better reflects a tax payer’s ability to pay. Rep. David Sharpe, the chairman of the House Committee on Education, says the funding system “is due for an overhaul.” Sharpe believes the proposal offers a clearer financial breakdown.