Reforms Needed
In Property Tax

Now seems a good time to ask if others are concerned about the unfair property tax policy in Vermont towns.

The last quadrennial appraisal in Randolph was taken at the height of the housing boom. We are now encumbered with tax assessments based on that appraisal even though the real estate bubble has burst. Property valuations nationwide have declined between 6% to 20%. In the northeast the decline in two years is 6% to 7%.

Isn't it time for our state and municipal authorities to adopt fair and realistic tax policies? I suggest reform.

Reform 1. Base annual tax assessment on current valuations obtained from government statistics and the real estate industry. Many municipalities do that simple annual calculation.

Reform 2. Calculate the municipal income from the reformed assessment policy, and do the budget to fit that income—live within our means. This is in tune with our frugal Yankee tradition.

Reform 3. Reduce the property assessment of seniors by 20% before tax is calculated. This would benefit some elderly owners on fixed incomes, and is practiced elsewhere.

The suggested reform #2 above might just mean a reduction in what many perceive to be bloated administrative establishments. In this regard Randolph could lead the way by reducing its top-heavy bureaucracy.

Of course a more drastic, but probably fairer, reformed tax system would be to allow tax assessments to rise no more than 1% a year. California adopted such a provision many years ago.

Leigh Wright

Randolph