Budget & Taxes

This bill sets specific property tax rates and funding levels for Vermont's 2027 fiscal year, including a nonhomestead property tax rate of $1.698 per $100 of value and specific dollar yields for homestead and income calculations. It also reserves $52.45 million in the Education Fund to help offset potential property tax rate increases in 2028, while correcting a definition related to statewide education tax calculations. The legislation refunds $150,576 to the City of Barre for overpaid education taxes from 2021-2024 and adjusts special education funding grants for inflation starting in 2027. Additionally, it updates how special education census grants are calculated to account for inflation over time.

H.248 amends existing laws regarding child care grants and financial assistance programs. It allows the Commissioner for Children and Families to provide supplemental financial relief to child care programs at risk of closing, particularly those in high-poverty areas. The bill also expands eligibility for the Child Care Financial Assistance Program, enabling families with incomes up to 575% of the federal poverty level to receive subsidies for child care needed for employment or training. Additionally, it revises payment schedules for child care providers, requiring timely payments and reducing the rate difference between family child care homes and center-based programs.