LEADERSHIP - INTEGRITY - RESULTS 
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REAPPRAISAL QUESTIONS
Property reappraisals ensure that property taxes are distributed fairly by updating assessments to reflect current market values. Without reappraisals, some property owners would pay more than their fair share while others would pay less. Importantly, an increase in your property's assessed value does not automatically mean your taxes will increase by the same percentage. Tax rates are adjusted after a reappraisal because the total value of all property in the community changes. Property valuation and taxation are separate processes—the assessor determines market value, while municipalities and the State set tax rates based on the revenue needed to fund local and education services. For more information: Reappraisal & Tax Billing Q & A | Essex, VT TAX CREDITS AND FILING ASSISTANCE Last year, lawmakers expanded Vermont's Earned Income Tax Credit and Child Tax Credit, which offers tax credits up to $400 for low-wage earners, and up to $1000/child under 7. Vermonters may be eligible for a credit on property taxes when filing your homestead declaration. Vermont has volunteer tax preparers all over the state, ready to assist. Go to TaxCreditsVT.org for more information about Vermont's anti-poverty tax credits and how to file for them. 
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