MONTPELIER, Vermont — Gov. Peter Shumlin says school spending projections are going to require a 2-cent increase in the statewide school property tax rate.
Shumlin made the announcement on Monday.
He says a report by the tax department estimates education spending is going to increase by just under 3.1 percent in fiscal 2016.
The spending increase will require a 2-cent increase per $100 of assessed valuation for both residential and non-residential statewide property taxes. The increase is half of the fiscal 2015 increase for residential property. Last year, the non-residential property tax increase was 7.5 cents.
A report by the tax department says school spending is projected to increase by just under 3.1 percent for 2016.
Shumlin says Vermont has to reduce school spending while improving education quality.
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