By Brett Yates
At a special meeting on July 11, the Pittsfield Select Board set the new municipal tax rate at 0.43%. A townwide reappraisal boosted Pittsfield’s Grand List — the aggregate valuation of taxable property in the town — by about 20%, which has resulted in a lowering of the rate (previously 0.50%) despite a small increase in the amount to be raised by municipal taxes in fiscal year 2023.
Board chair Ann Kuendig reported a homestead education tax rate of 0.84%. A formula devised by the state determines the education tax rate for each town, based on the local school district’s budget and other factors. Last year, Pittsfield’s was 1.2%. The Vermont General Assembly agreed in May to use a $95 million surplus in the state education fund to lower the rate across the state.
“This is a one-time lowering, and next year it’s going to go right back to what it was and maybe even more,” Kuendig predicted.
At 1.23%, the total residential tax rate in Pittsfield has decreased by 25.4%.
