Living in a cottage-type home in a pocket neighborhood has been a dream for a long time! Appreciate all of the good info and I hope we'll see more workforce housing throughout Vermont.
There is no doubt that VT needs more and more affordable housing. But the property tax system is too badly broken to further complicate with more use of TIF, which is a tool VT has been wise to limit given its use in other places, which is great at times, but subsidizes lots of projects with dubious public benefit. A more comprehensive vision and reform is needed.
A reasonable question. The Legislature has driven some zoning reform and a few towns have made substnatial progress. There is more to be done with that, but it wouldn't still be VT if that wasn't mostly done one town at a time. And its potential is limited. A slow process that needs to be done, but will only yield so much.
#1 Change = Land Value Taxation, collect unearned rents and return them to the community in the form of infrastructure funding (which is a big hurdle in lots of VT towns) and possible direct subsidies to housing. BUT that has to be accompanied by fixing school finance (even if you think TIF is a good tool, it isn't viable at scale until school finance is fixed) and that is hard.
Remember that LVT doesn't tax improvements, so suddenly adding an ADU is much less painful! Having said that, I doubt that LVT at scale is poltically viable and I also doubt (I am a Georgist, but not a single taxer) that it would enough. Maybe?
#2 Change = Tax second homes and STRs substantially and dedicate the proceeds to infrastructure and housing. Someone who has a million dollar plus second home near Stowe may whine, but is not going to be more than mildly inconvenienced. STRs can be taxed more heavily without damaging the tourism industry.
I am off to the dentist, but willing to continue this conversation.
Among many other things, I was once upon a time the Williston Town Planner, and have been involved in these issues in quite a few other places, mostly out West. For various reasons, I take a broader view than most.
It might be fun to chat. I have a busy week and am then off to Montana for a business trip at the firsr of next week. After that would be good. my email is: lhnellis@gmail.com.
Living in a cottage-type home in a pocket neighborhood has been a dream for a long time! Appreciate all of the good info and I hope we'll see more workforce housing throughout Vermont.
Likewise! Sounds like a great place to live. Excited to see how this one comes out.
There is no doubt that VT needs more and more affordable housing. But the property tax system is too badly broken to further complicate with more use of TIF, which is a tool VT has been wise to limit given its use in other places, which is great at times, but subsidizes lots of projects with dubious public benefit. A more comprehensive vision and reform is needed.
What would you propose instead?
A reasonable question. The Legislature has driven some zoning reform and a few towns have made substnatial progress. There is more to be done with that, but it wouldn't still be VT if that wasn't mostly done one town at a time. And its potential is limited. A slow process that needs to be done, but will only yield so much.
#1 Change = Land Value Taxation, collect unearned rents and return them to the community in the form of infrastructure funding (which is a big hurdle in lots of VT towns) and possible direct subsidies to housing. BUT that has to be accompanied by fixing school finance (even if you think TIF is a good tool, it isn't viable at scale until school finance is fixed) and that is hard.
Remember that LVT doesn't tax improvements, so suddenly adding an ADU is much less painful! Having said that, I doubt that LVT at scale is poltically viable and I also doubt (I am a Georgist, but not a single taxer) that it would enough. Maybe?
#2 Change = Tax second homes and STRs substantially and dedicate the proceeds to infrastructure and housing. Someone who has a million dollar plus second home near Stowe may whine, but is not going to be more than mildly inconvenienced. STRs can be taxed more heavily without damaging the tourism industry.
I am off to the dentist, but willing to continue this conversation.
Fascinating. I’d love to learn more. What do you do that gets you so in the weeds on these policies? Maybe we could chat sometime.
Among many other things, I was once upon a time the Williston Town Planner, and have been involved in these issues in quite a few other places, mostly out West. For various reasons, I take a broader view than most.
It might be fun to chat. I have a busy week and am then off to Montana for a business trip at the firsr of next week. After that would be good. my email is: lhnellis@gmail.com.