School Taxes and the Real Estate Markets

An article in the Rutland Herald today discusses the problems of Vermont School taxes and the rising prices in real estate. With the State determining a large part of property tax bills through Act 68 as real estate values rise property taxes become more burdensome. This is esp. true for business and nonresidential properties who are not eligible for income sensitive tax rebates. Greater than 50% of the Vermonters received some sort of rebate in 2004.
Rutland Herald: Rutland Vermont News & Information

Stowe looking at increased electric rates?

An article in the Burlington Free Press today states that the proposed new electric line into Stowe has increased in price by 50%. Originally it was projected to cost $13 million, the estimate is now between $35 and $40 million. This could have considerable effect on electric rates in Stowe since the Stowe electric company is slated to foot more than 50% of the bill.

The line extension is considered essential due to increasing demand as a result of the development at Stowe Mountain Resort and elsewhere around town. For a period of time last year the Stowe Development Review Board was not allowing new projects to be approved since they couldn't be assured of adequate electric supply.
Cost increases for power line to Stowe

Chittenden county real estate prices fall

On Saturday July 8th the Burlington Free Press reported that for the first time in a decade the median price of a home in Chittenden county fell. Chittenden county is in Northwest Vermont and includes the City of Burlington and surrounding communties. Prices for a single family home were down 1.7 percent from a year ago for the first 6 months of the year. It appears that investors have fled the local real estate market as prices have stablized and the interest rates have gone up.
Burlington Free Press.com Top Stories

Stowe Real Estate Market Cooling Off?

An article in last week's Stowe Reporter discusses the signs that the Stowe real estate market appears to be cooling off in the recent past. There are more properties listed and less being sold than last year. Listing Real Estate Agents are more aggressive with their advertising to try to make their properties stand out and alert customers to price reductions.
The Stowe Reporter

Multi-unit investment property sales down

An article in the July 2nd Burlington Free Press discussed the lagging market in mutifamily sales in Northwest Vermont. Units are staying on the market longer and not bringing nearly the prices they did last year.
Burlington Free Press.com Business