Montpelier Property Tax Facts

In 2003, 1,254 residents submitted prebate applications to take advantage of the income sensitivity provisions of the education property tax. A total of $865,447 in school tax adjustments was paid to Montpelier residents, an average adjustment of $690.15. This is a straight reduction of property taxes. The total payment is the equivalent of an overall 17 cent reduction distributed on an income based formula. This program is for households with incomes of up to $88,000.

Also in 2003, 673 Montpelier residents submitted applications for homeowner rebates. This program caps total property tax payments for people earning under $47,000 annually. At total of $636,132 was paid to Montpelier residents, an average rebate of $945.22. This is also a direct reduction of property taxes. The total payment represents the equivalent of an overall 12.5 cent reduction distributed on an income based formula.

State programs to mitigate property tax impacts on an income basis returned over 1.5 million dollars - the equivalent of 29.5 cents on the tax rate (over 10%) - back into Montpelier in 2003.

2007-08 GRAND LIST       Real Estate   $    510,343,850     Personal Property $      21,262,185       TOTAL $    531,606,035               Voter Approved   $       7,175,550     Municipal Spending                         TAX RATES         Residential   $           3.4400     Non-Residential   $           3.6090

TAX RATES         Residential     Non-Residential     RATE     RATE City, Cemetery, Agencies $1.2197   City, Cemetery, Agencies $1.2197 Recreation & Senior Center $0.1330   Recreation & Senior Center $0.1330 Subtotal Municipal Rate $1.3527   Subtotal Municipal Rate $1.3527           Sewer Benefit Charge $0.0200   Sewer Benefit Charge $0.0200 Sewer Seperation Charge $0.0100   Sewer Seperation Charge $0.0100           School $1.9673   School $2.1363           TOTAL $3.4400   TOTAL $3.6090 Note: Allows $15,000 for Abatements and Errors & Omissions