VERMONT SENATE PASSES S.160, A BILL TO SUPPORT VERMONTERS
AND MUNICIPALITIES IMPACTED BY JULY FLOODING
MONTPELIER, VT – The Vermont Senate took action today to help individuals and towns impacted by July flooding. S.160 will authorize the Commissioner of Taxes to reimburse municipalities for property tax abatements granted due to disruption to tax collections resulting from this summer’s flooding in Vermont’s federally-declared disaster areas. The legislature plans to act quickly on the legislation.
“Vermonters and municipalities are still recovering from the impacts of the devastating July floods,” said Senator Ann Cummings, Chair of Senate Committee on Finance and lead sponsor of the Senate bill. “I’m pleased to introduce a bill that will provide Vermont homeowners and our towns with the State support they need as abatement requests are considered.”
“It’s the Senate’s top priority to identify all avenues to support Vermonters and municipalities impacted by the July floods and to do whatever we can to protect communities from future flooding events,” said Senator Baruth, President Pro Tem of the Vermont Senate. “I’m grateful to Senator Cummings and her committee for their work expediting this important bill.”
Under current law, town boards of abatements may abate local and State property taxes, but will still owe the State education tax for the abated properties. These bills provide a process to reimburse towns for those State property taxes owed. Abatements and properties must meet certain eligibility criteria before the State will reimburse the town. Towns apply to the Vermont Department of Taxes, which will determine if the properties and abatements meet the criteria to be eligible for reimbursement.
You can learn more about S.160 on the legislative website. The legislation will require House approval before being considered by the governor.
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