Income is a better indicator of ability to pay school taxes than property values, a new Tax Commission recommends. But will the Legislature agree? Who benefits?
"Most Vermont homeowners receive a property tax break based on their income, but the levy on homes is still criticized for being regressive. The report's authors argue that income, not the value of one’s home, is a better proxy for wealth. An income tax would also be much simpler to administer than the current scheme’s byzantine income-sensitivity program, they wrote."
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