The towns of Barton and Holland have completed full property reappraisals, as required by Vermont law when the common level of appraisal falls below a certain threshold. The last reappraisal in Barton was in 2012. Since then, a surge in housing sales during the pandemic drove up property values, and those higher prices have persisted.
As a result, many homeowners in both towns saw their assessed values more than double. Town officials say that has raised concerns about tax bills, but they caution that higher assessed values do not automatically mean higher taxes.
Barton Town Clerk and Treasurer Kristin Atwood said the fear is understandable but based on a common misunderstanding. The municipal tax rate is calculated by dividing the total town budget by the total assessed value of all properties. If all values rise proportionally, the tax rate can fall, offsetting the increase in individual assessments. The key factor is the budget, not the assessed value alone.
The reappraisals were triggered by the common level of appraisal (CLA), which compares assessed values to recent sale prices. When a town's CLA falls below 80 percent, state law requires a full reappraisal. Many towns across the Northeast Kingdom now face the same situation, creating a backlog that can leave some communities waiting years for appraisal companies to become available.
For Holland, the updated CLA of 100 percent means the town will now be able to tax Vermont Electric Cooperative's poles, cables, and transmission stations at full value, along with equipment from Dish Network and Fidium. That is expected to increase town revenue.
NEK will be looking into which other local towns are still waiting for reappraisal vendors and how the backlog may affect their budgets and tax rates.
Originally reported by Newport Daily Express.
Photo: Gonzalo García Paz via Unsplash. Photo is illustrative and not from the scene.
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