New hydro valuations could boost tax rates

Posted on April 29, 2010 |

• Middlebury

By John Flowers

MIDDLEBURY — Members of the Vermont House Ways and Means Committee on Wednesday were considering steps to pre-empt a major devaluation in utilities’ hydro-power facilities statewide, something that would result in new assessments that could substantially reduce grand lists — and therefore boost property tax rates — in six Addison County towns.

For the purpose of levying property taxes, hydro facilities are currently reassessed annually based on an income analysis that takes into account the wholesale cost of power.

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