The state has given Barre authority to establish a special tax district that’s
designed to help the city pay for public works that will attract economic
development.
The
city of St. Albans was just approved by the state for the latest tax increment
financing district. Other
communities are interested in districts of their own, but state law limits how
many there can be. So Gov. Peter Shumlin wants the Legislature to add more
of them.
The
state is at odds with a couple of cities and towns over revenue generated by a
special kind of tax program known as tax increment financing, or TIF.
A Tax Increment Financing District is a complicated financial
tool that helps towns invest in their infrastructure and promote
economic development. But recent state audits of TIF districts reveal disagreement on the regulations that govern them.
Vermont’s State Auditor says the City of Burlington has mismanaged a complicated financial tool designed to
help spur economic growth, and that the City should reimburse the state education
fund.
Having a part-time citizen
legislature – rather than a full time professional one – is one of the
hallmarks of Vermont politics and culture. We look at the pros and cons of
having citizen lawmakers – and how it affects the atmosphere at the Statehouse.