The Vermont Chamber testified this week in the House Ways and Means Committee on proposed property tax classification changes, which will be a critical component to the future of education finance. From taxes to housing and healthcare, businesses and residents are grappling with mounting pressures. The message is clear: Vermont must address its most significant issues with bold, comprehensive reforms in order to remain competitive and economically resilient. A path toward sustainability and predictability is needed to support Vermont’s economic drivers.

The proposed system expands property classifications into nine distinct categories. Although this could enable a more nuanced tax framework, there are concerns about the feasibility of implementation. In the Vermont Chamber’s recent Business Climate Survey, 86% of businesses expected last year’s property tax increases to impact their financial health. We encouraged the committee to recognize the significant tax burden businesses face, to support investment and growth, and to ensure that Vermont remains competitive in attracting business investment.

While there are concerns with the current proposal, we remain committed to staying at the table to ensure that the business community has a proactive voice and that any changes remain equitable, transparent, and supportive of economic growth. Meaningful reforms will require all stakeholders to engage in difficult conversations. 

As a member-driven organization, we value your feedback, which will help shape our advocacy work as we continue these conversations. Please consider taking this micro-survey to inform our efforts.