The Bottom Line: Voters Will Make Choices that Determine Taxes for 2010 - 2011
February 11, 2011, page 5

The Selectboard and School Boards have completed their work, fine-tuning budgets for 2010 -2011. It is now up to the voters to decide whether or not to accept them. The table below shows estimates of the tax impact of the various programs (see Town Meeting Warning on page 3). The average home value in Charlotte is about $600,000, and the column on the far right would be the approximate property taxes before reductions for income sensitivity. Many homeowners in Charlotte pay their education taxes based on income, reducing the burden so the amount of school taxes and the overall total will be less than shown.
On the other hand, taxes on nonresidential property (open land, seasonal homes, commercial and rental property) are not reduced by income sensitivity.

The Bottom Line 2010

Property Taxes based on appraised values of $100,000 and $600,00.

Based on 2009 Grand List of 9,279,373. (The Grand List is 1% of total property values. It is not expected to increase significantly in 2010.)

Property Taxes Needed to be Raised for General fund $770,120: taxes on $100,000=$83, on $600,000=$498

Needed to be Raised for Highway Fund $711,913: taxes on $100,000 = $77, on $600,000 = $460

For Conservation Fund $185,587: taxes on $100,000 = $20, on $600,000 = $120

For Fire & Rescue Capital Fund $139,191: taxes on $100,000 = $15, on $600,000 = $90

For Affordable Housing Fund $40,000: taxes on $100,000 = $4, on $600,000 = $26

For Charlotte Trails Construction Fund $25,000: taxes on $100,000 = $3, on $600,000 = $16

Local Agreement (Veterans, Grange, etc., exemptions) $8,132: taxes on $100,000 = $1, on $600,000 = $5

Total Municipal Taxes $1,879,943; total municipal tax rate = 0.2026; taxes on $100,000 = $203, taxes on $600,000 = $1,216
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School Taxes (Based on projected statewide tax rates as of January 2010)

Charlotte Central School (CCS): taxes on $100,000 = $959, on $600,000 = $5,753

Champlain Valley Union High School: taxes on $100,000 = $438, on $600,000 = $2,628

Total Homestead School Property Taxes (before income sensitivity): on $100,000 = $1,397, on $600,000 = $8,381

Total Nonresidential School Taxes: on $100,000 = $1,369, on $600,000 = $8,212
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Combined Municipal & School Taxes

Total Homestead Tax Rate and Property Taxes (before income sensitivity on school taxes): tax rate 1.5995, taxes on $100,000 = $1,600, on $600,000 = $9,597

Total Nonresidential Tax Rate and Property Taxes (i.e., on commercial, seasonal, rental, land): tax rate 1.5713; taxes on $100,000 = $1,571, on $600,000 = $9,428
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LeBoeuf Property Purchase, $1.2 million, 10-year bond

Estimated First Year Bond Payment (Bonds issued July 2010) = $25,247: taxes on $100,000 = $3, on $600,000 = $16

Estimated Second Year Bond Payment for LeBoeuf Purchase (highest of 10 payments) = $150,393: taxes on $100,000 = $16, on $600,000 = $97