House adopts H.949 to adjust education yields, buy down property taxes for FY2027
May 30, 2026 | HOUSE OF REPRESENTATIVES, Committees, Legislative , Vermont
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The House of Representatives adopted the committee of conference report on House Bill 949 on a roll call vote of 111 yes to 23 no, approving changes to education finance that supporters said will lower property tax rates in fiscal year 2027.
The member from Brattleboro presented the report and said H.949 sets the statutory property dollar equivalent yield at $9,401 and the income dollar equivalent yield at $12,960, sets the non‑homestead property tax rate at 1.643 per $100, and uses approximately $100,900,000 in one‑time general funds plus $22,330,000 in unallocated education funds to uniformly reduce property taxes in FY2027. The presenter also described a one‑year $4,000,000 increase in the renter credit, raising the maximum renter credit to $3,250 from $2,500, and an expansion of the circuit breaker by increasing the income limit from $47,000 to $50,000 and raising credit amounts for municipal and education portions.
Opponents on the floor argued the bill compresses spending before districts have the capacity and tools to reduce costs, warning the change creates pressure that could lead to program cuts, school closures, and uneven impacts on rural districts. The representative from South Burlington announced a no vote and requested the adoption be taken by roll; the request was sustained and the roll call recorded the final tally.
After adoption, the House approved a motion to deliver H.949 to the governor forthwith.
The action implements a near‑term tax buy‑down while creating a path toward the longer‑term foundation formula referenced in H.955; the bill also contains technical corrections and a payback to the City of Barre for a prior overpayment, and an inflation adjustment to the special education census grant. Members who opposed the bill said they would press for stronger implementation supports so districts can meet lower excess‑spending thresholds without harming services.
The House’s adoption is the chamber’s formal acceptance of the Committee of Conference report; delivery to the governor was ordered the same day.
The member from Brattleboro presented the report and said H.949 sets the statutory property dollar equivalent yield at $9,401 and the income dollar equivalent yield at $12,960, sets the non‑homestead property tax rate at 1.643 per $100, and uses approximately $100,900,000 in one‑time general funds plus $22,330,000 in unallocated education funds to uniformly reduce property taxes in FY2027. The presenter also described a one‑year $4,000,000 increase in the renter credit, raising the maximum renter credit to $3,250 from $2,500, and an expansion of the circuit breaker by increasing the income limit from $47,000 to $50,000 and raising credit amounts for municipal and education portions.
Opponents on the floor argued the bill compresses spending before districts have the capacity and tools to reduce costs, warning the change creates pressure that could lead to program cuts, school closures, and uneven impacts on rural districts. The representative from South Burlington announced a no vote and requested the adoption be taken by roll; the request was sustained and the roll call recorded the final tally.
After adoption, the House approved a motion to deliver H.949 to the governor forthwith.
The action implements a near‑term tax buy‑down while creating a path toward the longer‑term foundation formula referenced in H.955; the bill also contains technical corrections and a payback to the City of Barre for a prior overpayment, and an inflation adjustment to the special education census grant. Members who opposed the bill said they would press for stronger implementation supports so districts can meet lower excess‑spending thresholds without harming services.
The House’s adoption is the chamber’s formal acceptance of the Committee of Conference report; delivery to the governor was ordered the same day.
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