Compensates the City of Barre for overpayment of education property tax increment.
The bill proposes to transfer $150,576.00 from the General Fund to the Education Fund and appropriate those funds to the Department of Taxes to compensate the City of Barre for overpayments of education property taxes in fiscal years 2021 through 2024. This compensation is due to insufficient retention of tax increment by the City’s tax increment financing district fund.
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