From the Vermont Press Bureau:
On just its third day in session, the Vermont House of Representatives voted out a tax abatement bill that will soften the financial blow to municipalities ravaged by Tropical Storm Irene.
On the whole, Irene’s impact on Vermont property values was pretty minor. The $109 million in damage to residential and commercial properties statewide amounts to only about one-tenth of 1 percent of the state’s $81.3 billion grand list.
But for communities like Waterbury, which saw $9.9 million in property damage, or Wilmington, which registered more than $13 million in losses, the legislation approved unanimously Thursday will prevent the disaster from triggering even more fiscal pressure on taxpayers in those communities.
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On just its third day in session, the Vermont House of Representatives voted out a tax abatement bill that will soften the financial blow to municipalities ravaged by Tropical Storm Irene.
On the whole, Irene’s impact on Vermont property values was pretty minor. The $109 million in damage to residential and commercial properties statewide amounts to only about one-tenth of 1 percent of the state’s $81.3 billion grand list.
But for communities like Waterbury, which saw $9.9 million in property damage, or Wilmington, which registered more than $13 million in losses, the legislation approved unanimously Thursday will prevent the disaster from triggering even more fiscal pressure on taxpayers in those communities.