by Laurie Mumley A possible miracle for Bill H.829 – there is an open letter from a group of high income and wealthy residents to the Legislature asking to be taxed at a higher rate in response to the critical needs we have in our state for housing (as the governor attests) and for other services. A story in Vermont Business shares a link to that letter: www.fairsharevt.org.
We can connect the dots, between that letter and the proposed tax in H.829 to create a 10-year plan to address all kinds of housing needs. Our legislators need to understand that this new revenue stream can support the 10-year plan for housing, without taxing the regular guy. H.829 includes both new revenue streams as well as specific language to direct funds toward affordable and middle-income housing, housing-related services, and shelter creation.
This presents a significant opportunity to create a long-term funding stream to tackle Vermont’s housing and homelessness crisis. As noted in the bill's JFO fiscal note: "Appropriations starting in fiscal year 2026 would be part of a stated General Assembly intent in this bill to make $900 million in housing investments between fiscal year 2026 and 2034."
There is pushback that this bill would create a new tax on working Vermonters, which is not accurate. The changes to the Property Transfer Tax in H.829 would save ordinary Vermonters almost $1,000 when they buy a home valued at less than $600,000. (Important! This is not a property tax, but one collected when homes are sold.) Also, on the income tax side, it would only impact folks making more than $500,000 (filing jointly) – less than the top 5% of Vermonters (top 1% is $588,500+).
The Developmental Disabilities Housing Initiative (DDHI) is a parent group working to create housing choices for people with Intellectual and Developmental Disabilities. We are sending a letter to Representatives in the House to urge support for H.829. This bill, if signed into law, will 1) include people with IDD as priorities for the Vermont Housing and Conservation Board (VHCB) and the Vermont Housing Improvement Program (VHIP) and 2) include funding for creating Service Supported Housing.
See the 10-Year Plan here:
JFO Fiscal Note on H.829: GENERAL-375514-v3-H_829_-_Housing_FN-v2.pdf (vermont.gov)
Laurie Mumley, from Shelburne, is a single mother of two, whose son has autism.
