As mentioned at the last Burlington Business Association meeting with Bob Kiss, our mayor is proposing increasing taxes… here’s the story from the AP:
Burlington Faces Tax Hike To Cover Pension Underfunding
POSTED: 10:43 am EDT May 13, 2006
BURLINGTON, Vt. — Burlington’s new mayor said the state’s largest city faces a tax increase because there hasn’t been enough money set aside to cover employee pensions. Over the past two years, Burlington has underfunded the pension system by nearly $2.8 million.Mayor Bob Kiss said he’ll ask for a tax increase to cover all of this year’s pension requirements and to begin reducing previous obligations. Kiss has formed a task force to help him deal with problems in the city’s budget. Former Mayor Peter Clavelle’s administration had estimated the city would be $1.7 million short of meeting its budget. The state has since approved giving Burlington authority to collect a 1 percent local sales tax that is expected to generate $800,000.
So now here’s a little list I’ve come up with of more money Burlingtonians will have to dole out to the government:
- Local option sales tax
- Burlington Electric rate increase
- Increase in Dept. of Motor Vehicle Fees (starting July 1st)
- Some Burlington residents (including our home) will be or have already gotten from the Assessors office, a ‘re-estimate’ of the property reappraisal – our home’s estimate increased by $3,000
- And of course, the extra taxes as mentioned in the above article that our Mayor will be asking us for very soon…
It wouldn’t suprise me to see even more For Sale signs start springing up like weeds around town.
I always welcome comments, so please… feel free! 😉