A Message from the Town of Lincoln Selectboard Regarding Property Taxes

Property tax bills have been mailed to Lincoln residents, and we expect that many of you will have concerns about the increase you see in your bill. Unfortunately, many factors have contributed to property tax increases, and the Selectboard recognizes the burden this will place on homeowners. We are disappointed by this outcome, as well.

Town officials have been diligent in ensuring that taxpayer money is spent wisely on the administration of our town and maintenance of our roads. Despite increasing costs from inflation, we were able to develop a budget for the 2024-2025 fiscal year that remains flat compared to the prior year. Our school board has also worked hard to minimize spending increases as employee healthcare and infrastructure costs continue to grow. This is a statewide challenge. 

Also completed in 2024 was a townwide reappraisal, which was required by the state to bring our property values in line with Fair Market Values based on the last three years of real estate sales in Lincoln. This had not been done since 2010 and, as we all know, the market has changed drastically. The upside of a reappraisal is that many of us have more equity in our homes. The downside is that your taxes are now calculated on that higher value.

Lincoln voters approved the budgets for the highway fund, general fund, and school district during Town Meeting in March 2024. In the end, the homestead and non-homestead tax rates we set were lower than the previous two years, but it wasn’t enough to offset the increase from higher home values. 

Understanding this doesn’t make the higher cost hurt any less, and we expect that you may still have questions. We encourage you to take a look at the new FAQs page on the town website at lincolnvermont.org/taxfaqs, which aims to educate Lincoln residents regarding property taxes and how they are calculated. There, you’ll find a list of resources and contacts that may be able to offer more information about your unique situation.

The Selectboard also organized a public meeting with our state elected officials on August 19, 2024 at Burnham Hall — Reps. Mari Cordes and Caleb Elder participated, and Chris Bray and Ruth Hardy have offered to come to a future meeting. About 50 members of the public attended to voice their concerns about the decision making around spending in Montpelier, and the Selectboard is considering important feedback received at this event.

Thank you for your consideration and what each of you bring to our small community.