9-21-15 – Kiplinger: Vermont 7th Worst for Taxes

Posted by Rob Roper

The financial site, Kiplinger, recently updated its list of the ten worst states to live in for taxes. Vermont “vaulted” (their word) from ninth worst to seventh worst based on what the legislature did during the 2015 session. They cite raising property taxes, expanding the sales tax to sweetened beverages and limiting income tax deductions for wealthier citizens, as well as already above average fuel taxes.

Some of the numbers:

  • State income tax: 3.55% (on income up to $37,450/individual, $62,600/joint) – 8.95% (income more than $411,500)
  • State sales tax: 6% (The average state and local combined sales tax rate is 6.1%.)
  • Gas taxes and fees: 31 cents per gallon
  • Rooms & Meals Tax: 9%.
  • Alcoholic Beverages Served In Restaurants tax: 10%.
  • Property Taxes: The median property tax on the state’s median home value of $218,300 is $3,727, the ninth-highest in the U.S.

Seriously, folks, this has got to stop.

{ 3 comments… read them below or add one }

Joanne Rose September 23, 2015 at 11:19 am

My house is assessed for $218,600 and my tax bill this year reached $4761. VT counts ALL my social security toward my property tax adjustment, which thankfully helps out alot with my property taxes. Others aren’t so lucky. The culprit is education funding. Needs to change that is for sure.

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Robert September 27, 2015 at 2:34 pm

The NEA is essentially in change of the Vermont economy. The teacher’s union will never have enough even though 75% of our property tax bills already go to “education.” Whenever school boards try to reign in budgets the VT NEA declares war and stops at nothing until any opposition caves. Add to that a Legislature that shares the mindset that taxes will never be high enough and that every perceived problem is up to them to solve and it becomes clear why we’re in such dire economic straights. Instead of being turned out at election time for their incompetence, often legislators don’t even have opponents for their seats. Does this have to stop? Yes. Is it going to? Unlikely until our economy collapses.

Reply

John Richard October 1, 2015 at 12:58 pm

Another expense in Vermont is the cost of private school, to keep your kids out of the socialist school system that costs so much in property tax. Vermont is a losing proposition for all but the lowest rung of the motivational ladder (and scammers in government, higher ed and non-profits).

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