February 12 CVSD Proposed Budget Update

We wanted to follow up on the email and notice we sent last week with another update about the Champlain Valley School District’s proposed budget. Last week, Vermont's lawmakers discussed making a significant change to Act 127. They're considering getting rid of the 5% cap on pre-CLA tax rates and replacing it with a tax-rate discount (as outlined in H.850). It's an unusual discussion. Nothing has been decided yet.

The new bill also includes language about potentially delaying school district budget voting if districts choose to do that.

It's important to know that any changes to Act 127 have to go through the whole legislative process. If this law is changed, it would start affecting things from the 2024-2025 school year onwards, and it could impact the tax rate increase we proposed.

CVSD’s finance department, superintendent, and the Board’s chair and vice-chair have been closely monitoring the meetings in Montpelier. On Tuesday, February 13 at 6 pm, the Board’s finance committee will meet to discuss options for CVSD. Information to view that meeting is posted on the district’s website calendar on the left of the homepage. https://www.cvsdvt.org/ The next full Board meeting is scheduled for February 20th.

These articles may provide some helpful information.

• Lawmakers move to replace controversial property tax cap with targeted ‘discount’, VTDigger, February 9, 2024 
• With Large Tax Hikes Looming on Town Meeting Day, School Districts Ask the State for Help, Seven Days, January 31, 2024 
• Story from Vermont Public on the rising cost of education, January 12, 2024 

We will do our best to keep all members of the CVSD community informed about the next steps for our district’s proposed budget.

Rene Sanchez, Superintendent